Valicenti Advisory Services Inc. acquired a new stake in Newmont Goldcorp Corp (NYSE:NEM) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 133,430 shares of the basic materials company’s stock, valued at approximately $5,798,000. Newmont Goldcorp makes up about 2.4% of Valicenti Advisory Services Inc.’s holdings, making the stock its 13th biggest holding.
A number of other large investors have also added to or reduced their stakes in NEM. Reitz Capital Advisors LLC increased its holdings in shares of Newmont Goldcorp by 6.8% during the third quarter. Reitz Capital Advisors LLC now owns 13,745 shares of the basic materials company’s stock valued at $521,000 after acquiring an additional 870 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in Newmont Goldcorp by 2.9% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 112,775 shares of the basic materials company’s stock worth $4,277,000 after buying an additional 3,180 shares during the period. Boston Partners raised its position in shares of Newmont Goldcorp by 1,167.1% in the 3rd quarter. Boston Partners now owns 1,000,711 shares of the basic materials company’s stock worth $37,947,000 after acquiring an additional 921,736 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Newmont Goldcorp by 13.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 11,868,501 shares of the basic materials company’s stock worth $456,581,000 after acquiring an additional 1,380,005 shares in the last quarter. Finally, Gamble Jones Investment Counsel bought a new position in Newmont Goldcorp during the 3rd quarter valued at approximately $136,000. 80.87% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Dean Gehring sold 3,500 shares of Newmont Goldcorp stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $43.78, for a total value of $153,230.00. Following the completion of the sale, the executive vice president now owns 21,310 shares in the company, valued at approximately $932,951.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas Ronald Palmer sold 4,000 shares of Newmont Goldcorp stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $39.68, for a total transaction of $158,720.00. Following the completion of the sale, the chief executive officer now owns 246,073 shares of the company’s stock, valued at approximately $9,764,176.64. The disclosure for this sale can be found here. Insiders have sold a total of 36,500 shares of company stock valued at $1,469,110 in the last 90 days. Insiders own 0.44% of the company’s stock.
Several research firms recently weighed in on NEM. Barclays set a $45.00 target price on Newmont Goldcorp and gave the company a “buy” rating in a research report on Tuesday, October 15th. National Bank Financial reissued an “outperform market weight” rating on shares of Newmont Goldcorp in a research note on Wednesday, October 23rd. BMO Capital Markets dropped their target price on Newmont Goldcorp from $50.00 to $47.00 and set an “outperform” rating for the company in a research report on Tuesday, December 3rd. They noted that the move was a valuation call. Raymond James set a $48.00 target price on Newmont Goldcorp and gave the company an “outperform” rating in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada began coverage on Newmont Goldcorp in a report on Wednesday, December 4th. They issued a “hold” rating and a $45.00 price target for the company. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Newmont Goldcorp has an average rating of “Buy” and an average target price of $44.36.
Shares of NYSE NEM opened at $43.48 on Tuesday. The company has a 50 day simple moving average of $41.83 and a 200-day simple moving average of $39.40. The company has a market capitalization of $35.65 billion, a P/E ratio of 15.64 and a beta of -0.02. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.18 and a quick ratio of 1.76. Newmont Goldcorp Corp has a 1 year low of $29.77 and a 1 year high of $44.08.
Newmont Goldcorp (NYSE:NEM) last announced its quarterly earnings results on Tuesday, November 5th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.03). The firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.83 billion. Newmont Goldcorp had a return on equity of 4.71% and a net margin of 25.42%. The firm’s quarterly revenue was up 57.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.33 EPS. As a group, research analysts expect that Newmont Goldcorp Corp will post 1.31 EPS for the current year.
Newmont Goldcorp announced that its Board of Directors has authorized a share repurchase plan on Monday, December 2nd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the basic materials company to purchase up to 3.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
Newmont Goldcorp Company Profile
Newmont Mining Corporation, together with its subsidiaries, operates in the mining industry. The company primarily acquires, develops, explores for, and produces gold, copper, and silver. Its operations and/or assets are located in the United States, Australia, Peru, Ghana, and Suriname. As of December 31, 2018, the company had proven and probable gold reserves of 65.4 million ounces and an aggregate land position of approximately 24,000 square miles.
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