State Board of Administration of Florida Retirement System grew its holdings in shares of Newmont Goldcorp Corp (NYSE:NEM) by 0.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,140,933 shares of the basic materials company’s stock after buying an additional 3,420 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.14% of Newmont Goldcorp worth $70,441,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. Successful Portfolios LLC lifted its position in Newmont Goldcorp by 3.0% during the 1st quarter. Successful Portfolios LLC now owns 7,613 shares of the basic materials company’s stock worth $345,000 after buying an additional 221 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Newmont Goldcorp by 1.5% during the 1st quarter. Pacer Advisors Inc. now owns 15,662 shares of the basic materials company’s stock worth $928,000 after purchasing an additional 230 shares during the last quarter. Wealth Quarterback LLC increased its stake in shares of Newmont Goldcorp by 23.5% during the 1st quarter. Wealth Quarterback LLC now owns 1,219 shares of the basic materials company’s stock worth $55,000 after purchasing an additional 232 shares during the last quarter. Tarbox Family Office Inc. increased its stake in shares of Newmont Goldcorp by 73.8% during the 1st quarter. Tarbox Family Office Inc. now owns 570 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 242 shares during the last quarter. Finally, Atlas Capital Advisors LLC increased its stake in shares of Newmont Goldcorp by 2.9% during the 2nd quarter. Atlas Capital Advisors LLC now owns 9,066 shares of the basic materials company’s stock worth $560,000 after purchasing an additional 259 shares during the last quarter. 81.29% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Newmont Goldcorp stock traded up $0.52 on Thursday, reaching $66.50. 236,589 shares of the stock were exchanged, compared to its average volume of 7,491,443. The firm’s 50 day moving average is $64.52 and its 200-day moving average is $56.19. Newmont Goldcorp Corp has a one year low of $33.00 and a one year high of $72.22. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.41 and a current ratio of 2.81. The firm has a market cap of $54.37 billion, a PE ratio of 13.94 and a beta of 0.41.
Newmont Goldcorp (NYSE:NEM) last issued its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.02). The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.37 billion. Newmont Goldcorp had a return on equity of 5.70% and a net margin of 36.79%. On average, equities research analysts expect that Newmont Goldcorp Corp will post 2.25 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.50%. The ex-dividend date is Wednesday, September 9th. Newmont Goldcorp’s payout ratio is 75.76%.
In other Newmont Goldcorp news, CAO John Kitlen sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $54.30, for a total value of $108,600.00. Following the completion of the transaction, the chief accounting officer now directly owns 47,742 shares in the company, valued at approximately $2,592,390.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Stephen P. Gottesfeld sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $54.09, for a total transaction of $216,360.00. Following the completion of the transaction, the executive vice president now owns 154,944 shares of the company’s stock, valued at $8,380,920.96. The disclosure for this sale can be found here. In the last three months, insiders sold 68,413 shares of company stock valued at $4,309,335. 0.28% of the stock is owned by insiders.
Several research analysts have recently weighed in on the stock. Citigroup lowered their price objective on shares of Newmont Goldcorp from $74.00 to $70.00 in a research note on Monday, June 29th. Deutsche Bank boosted their price objective on shares of Newmont Goldcorp from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Raymond James boosted their price objective on shares of Newmont Goldcorp from $78.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Credit Suisse Group reiterated a “buy” rating and issued a $72.00 price target on shares of Newmont Goldcorp in a research note on Wednesday, July 29th. Finally, Bank of America reiterated a “buy” rating and issued a $82.00 price target (up previously from $73.00) on shares of Newmont Goldcorp in a research note on Wednesday, May 6th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $71.40.
About Newmont Goldcorp
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.
Read More: Debt-To-Equity Ratio
Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Goldcorp Corp (NYSE:NEM).
Receive News & Ratings for Newmont Goldcorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmont Goldcorp and related companies with MarketBeat.com's FREE daily email newsletter.