Newmont Goldcorp Corp (NYSE:NEM) EVP E Randall Engel sold 3,500 shares of Newmont Goldcorp stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $38.65, for a total transaction of $135,275.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
NEM traded up $0.06 on Friday, reaching $38.58. 6,712,393 shares of the company traded hands, compared to its average volume of 10,518,585. The stock’s 50 day moving average price is $38.43 and its 200-day moving average price is $35.03. Newmont Goldcorp Corp has a 52-week low of $29.06 and a 52-week high of $40.33. The company has a market cap of $30.88 billion, a price-to-earnings ratio of 28.58 and a beta of 0.03. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.83 and a quick ratio of 1.38.
Newmont Goldcorp (NYSE:NEM) last announced its quarterly earnings data on Thursday, July 25th. The basic materials company reported $0.12 EPS for the quarter, missing the Zacks’ 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 company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the previous year, the firm posted $0.26 earnings per share. The business’s revenue for the quarter was up 35.8% on a year-over-year basis. As a group, equities research analysts forecast that Newmont Goldcorp Corp will post 1.2 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Gables Capital Management Inc. raised its stake in Newmont Goldcorp by 11.9% during the 2nd quarter. Gables Capital Management Inc. now owns 6,156 shares of the basic materials company’s stock valued at $237,000 after purchasing an additional 656 shares during the last quarter. Wealthstreet Investment Advisors LLC bought a new stake in Newmont Goldcorp in the 1st quarter valued at $574,000. Winslow Evans & Crocker Inc. increased its holdings in Newmont Goldcorp by 19.8% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 13,906 shares of the basic materials company’s stock valued at $536,000 after buying an additional 2,296 shares during the period. AE Wealth Management LLC bought a new stake in shares of Newmont Goldcorp in the 2nd quarter worth about $1,508,000. Finally, GAM Holding AG grew its holdings in shares of Newmont Goldcorp by 40.7% in the 1st quarter. GAM Holding AG now owns 304,735 shares of the basic materials company’s stock worth $10,900,000 after purchasing an additional 88,226 shares during the last quarter. 62.78% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on the stock. Barclays reissued a “buy” rating and issued a $44.00 target price on shares of Newmont Goldcorp in a research report on Sunday, August 4th. BMO Capital Markets assumed coverage on shares of Newmont Goldcorp in a research report on Wednesday, July 3rd. They issued a “market perform” rating and a $45.00 target price on the stock. Citigroup raised shares of Newmont Goldcorp from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Thursday, May 23rd. Deutsche Bank set a $41.00 price objective on shares of Newmont Goldcorp and gave the company a “hold” rating in a research report on Thursday, July 11th. Finally, TD Securities boosted their price objective on shares of Newmont Goldcorp from $46.00 to $47.00 and gave the company an “action list buy” rating in a research report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $41.76.
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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