Janus Henderson Group PLC Reduces Stock Holdings in Newmont Goldcorp Corp (NYSE:NEM)

Janus Henderson Group PLC lowered its position in Newmont Goldcorp Corp (NYSE:NEM) by 1.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,093,621 shares of the basic materials company’s stock after selling 50,988 shares during the quarter. Janus Henderson Group PLC’s holdings in Newmont Goldcorp were worth $157,460,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Advantage Investment Management LLC grew its holdings in shares of Newmont Goldcorp by 556.0% in the second quarter. Advantage Investment Management LLC now owns 656 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 556 shares during the period. Edge Wealth Management LLC purchased a new stake in shares of Newmont Goldcorp in the second quarter valued at about $27,000. Rehmann Capital Advisory Group grew its holdings in shares of Newmont Goldcorp by 350.2% in the first quarter. Rehmann Capital Advisory Group now owns 968 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 753 shares during the period. Legacy Bridge LLC purchased a new stake in shares of Newmont Goldcorp in the first quarter valued at about $36,000. Finally, Zions Bancorporation N.A. purchased a new stake in shares of Newmont Goldcorp in the first quarter valued at about $39,000. 62.78% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have weighed in on the stock. BMO Capital Markets assumed coverage on shares of Newmont Goldcorp in a research note on Wednesday, July 3rd. They set a “market perform” rating and a $45.00 target price for the company. Raymond James reaffirmed an “outperform” rating and set a $47.00 target price on shares of Newmont Goldcorp in a research note on Friday, April 26th. TD Securities increased their target price on shares of Newmont Goldcorp from $46.00 to $47.00 and gave the stock an “action list buy” rating in a research note on Tuesday, June 25th. TheStreet raised shares of Newmont Goldcorp from a “c+” rating to a “b-” rating in a research note on Friday, July 5th. Finally, Citigroup raised shares of Newmont Goldcorp from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $41.76.



In other news, CFO Nancy Buese sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $31.63, for a total value of $237,225.00. Following the completion of the transaction, the chief financial officer now owns 53,118 shares of the company’s stock, valued at $1,680,122.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP John Kitlen sold 750 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $35.24, for a total transaction of $26,430.00. Following the completion of the sale, the vice president now directly owns 44,173 shares in the company, valued at approximately $1,556,656.52. The disclosure for this sale can be found here. In the last three months, insiders sold 89,720 shares of company stock valued at $3,254,208. Insiders own 0.44% of the company’s stock.

Shares of NEM stock opened at $37.97 on Thursday. The company has a current ratio of 1.83, a quick ratio of 1.38 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $31.53 billion, a price-to-earnings ratio of 28.13 and a beta of 0.03. The stock’s 50-day moving average is $38.42. Newmont Goldcorp Corp has a 1-year low of $29.06 and a 1-year high of $40.33.

Newmont Goldcorp (NYSE:NEM) last posted its quarterly earnings data on Thursday, July 25th. The basic materials company reported $0.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.11). Newmont Goldcorp had a negative net margin of 1.03% and a positive return on equity of 4.79%. The business had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the previous year, the business posted $0.26 EPS. The company’s revenue for the quarter was up 35.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Newmont Goldcorp Corp will post 1.2 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Wednesday, September 11th. Newmont Goldcorp’s payout ratio is 41.48%.

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.

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Institutional Ownership by Quarter for Newmont Goldcorp (NYSE:NEM)

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