Plaisance Capital LLC reduced its holdings in Newmont Goldcorp Corp (NYSE:NEM) by 8.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,290 shares of the basic materials company’s stock after selling 2,010 shares during the quarter. Newmont Goldcorp comprises 1.4% of Plaisance Capital LLC’s investment portfolio, making the stock its 18th largest position. Plaisance Capital LLC’s holdings in Newmont Goldcorp were worth $1,314,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of NEM. Nomura Asset Management Co. Ltd. increased its position in shares of Newmont Goldcorp by 2.9% during the first quarter. Nomura Asset Management Co. Ltd. now owns 415,080 shares of the basic materials company’s stock valued at $18,794,000 after buying an additional 11,757 shares during the period. Simmons Bank bought a new position in shares of Newmont Goldcorp in the 1st quarter worth approximately $803,000. Private Advisor Group LLC lifted its stake in shares of Newmont Goldcorp by 4.3% in the 1st quarter. Private Advisor Group LLC now owns 11,053 shares of the basic materials company’s stock valued at $501,000 after purchasing an additional 455 shares during the period. Empirical Finance LLC bought a new stake in shares of Newmont Goldcorp during the second quarter valued at approximately $297,000. Finally, The Manufacturers Life Insurance Company grew its stake in Newmont Goldcorp by 13.4% in the first quarter. The Manufacturers Life Insurance Company now owns 1,264,026 shares of the basic materials company’s stock worth $57,235,000 after purchasing an additional 149,717 shares during the period. 79.46% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NEM traded down $0.78 during mid-day trading on Friday, hitting $65.35. 6,968,634 shares of the company traded hands, compared to its average volume of 5,983,486. The stock has a market cap of $52.48 billion, a price-to-earnings ratio of 13.64 and a beta of 0.36. The stock has a 50-day moving average price of $66.11 and a two-hundred day moving average price of $57.94. Newmont Goldcorp Corp has a 1 year low of $33.00 and a 1 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.
Newmont Goldcorp (NYSE:NEM) last posted its earnings results on Thursday, July 30th. The basic materials company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). The company had revenue of $2.37 billion during 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, analysts forecast that Newmont Goldcorp Corp will post 2.25 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Wednesday, September 9th. Newmont Goldcorp’s dividend payout ratio is 75.76%.
A number of analysts have recently commented on the stock. UBS Group boosted their target price on shares of Newmont Goldcorp from $58.00 to $71.00 and gave the company a “neutral” rating in a report on Monday, August 24th. Standpoint Research lowered shares of Newmont Goldcorp from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Raymond James raised their target price on shares of Newmont Goldcorp from $78.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Fundamental Research lifted their target price on shares of Newmont Goldcorp from $74.64 to $75.59 and gave the company a “buy” rating in a report on Thursday, August 13th. Finally, Barclays upped their price target on Newmont Goldcorp from $58.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, July 20th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $72.33.
In other Newmont Goldcorp news, EVP Stephen P. Gottesfeld sold 4,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $54.09, for a total value of $216,360.00. Following the transaction, the executive vice president now directly owns 154,944 shares in the company, valued at $8,380,920.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO John Kitlen sold 2,000 shares of Newmont Goldcorp stock in a transaction on Monday, June 8th. The stock was sold at an average price of $54.30, for a total transaction of $108,600.00. Following the transaction, the chief accounting officer now owns 47,742 shares in the company, valued at approximately $2,592,390.60. The disclosure for this sale can be found here. Insiders sold 69,563 shares of company stock worth $4,427,128 over the last three months. Insiders own 0.28% of the company’s stock.
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.
See Also: Retained Earnings
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