Meadow Creek Investment Management LLC lifted its position in shares of Newmont Goldcorp Corp (NYSE:NEM) by 109.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 112,420 shares of the basic materials company’s stock after acquiring an additional 58,856 shares during the period. Meadow Creek Investment Management LLC’s holdings in Newmont Goldcorp were worth $4,325,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in NEM. Van ECK Associates Corp raised its position in shares of Newmont Goldcorp by 33.0% during the 2nd quarter. Van ECK Associates Corp now owns 37,040,057 shares of the basic materials company’s stock worth $1,424,931,000 after purchasing an additional 9,198,168 shares during the period. BlackRock Inc. raised its holdings in shares of Newmont Goldcorp by 8.4% in the 1st quarter. BlackRock Inc. now owns 85,829,069 shares of the basic materials company’s stock worth $3,070,105,000 after purchasing an additional 6,653,939 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Newmont Goldcorp by 32.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,512,764 shares of the basic materials company’s stock worth $519,836,000 after purchasing an additional 3,328,151 shares in the last quarter. Northern Trust Corp lifted its stake in Newmont Goldcorp by 36.6% during the second quarter. Northern Trust Corp now owns 11,725,037 shares of the basic materials company’s stock valued at $451,062,000 after purchasing an additional 3,143,279 shares during the last quarter. Finally, Ruffer LLP lifted its stake in Newmont Goldcorp by 127.4% during the second quarter. Ruffer LLP now owns 4,530,246 shares of the basic materials company’s stock valued at $174,210,000 after purchasing an additional 2,538,247 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.
Shares of NEM stock traded up $0.86 on Wednesday, reaching $39.02. 4,609,809 shares of the company’s stock traded hands, compared to its average volume of 7,170,145. Newmont Goldcorp Corp has a 12-month low of $29.06 and a 12-month high of $41.23. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.38 and a current ratio of 1.83. The company has a market capitalization of $31.21 billion, a P/E ratio of 28.90 and a beta of -0.03. The business’s 50 day moving average price is $38.70 and its two-hundred day moving average price is $35.72.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be issued a $0.14 dividend. The ex-dividend date is Wednesday, September 11th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.44%. Newmont Goldcorp’s dividend payout ratio is 41.48%.
In other news, EVP William N. Macgowan sold 3,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $37.63, for a total transaction of $112,890.00. Following the transaction, the executive vice president now directly owns 206,351 shares in the company, valued at approximately $7,764,988.13. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Thomas Ronald Palmer sold 1,250 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $37.63, for a total transaction of $47,037.50. Following the completion of the transaction, the president now directly owns 272,823 shares in the company, valued at $10,266,329.49. The disclosure for this sale can be found here. Insiders sold 89,720 shares of company stock valued at $3,428,615 over the last three months. 0.44% of the stock is owned by insiders.
A number of analysts recently weighed in on NEM shares. Barclays restated a “buy” rating and set a $44.00 target price on shares of Newmont Goldcorp in a report on Sunday, August 4th. Deutsche Bank set a $41.00 target price on Newmont Goldcorp and gave the stock a “hold” rating in a research report on Thursday, July 11th. TheStreet raised Newmont Goldcorp from a “c+” rating to a “b-” rating in a research report on Friday, July 5th. Zacks Investment Research downgraded Newmont Goldcorp from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. Finally, BMO Capital Markets upgraded Newmont Goldcorp from a “market perform” rating to an “outperform” rating and increased their price target for the company from $45.00 to $50.00 in a research report on Wednesday. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $43.56.
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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