Newmont Goldcorp (NYSE:NEM) Rating Lowered to C+ at TheStreet

TheStreet cut shares of Newmont Goldcorp (NYSE:NEM) from a b- rating to a c+ rating in a report published on Tuesday, TheStreetRatingsTable reports.

A number of other research analysts have also commented on NEM. TD Securities lowered their price target on Newmont Goldcorp from $52.00 to $50.00 and set an action list buy rating for the company in a research report on Monday, August 19th. B. Riley increased their target price on Newmont Goldcorp from $35.10 to $45.40 and gave the stock a neutral rating in a research report on Monday, September 9th. BMO Capital Markets raised Newmont Goldcorp from a market perform rating to an outperform rating and increased their target price for the stock from $45.00 to $50.00 in a research report on Wednesday, September 11th. Royal Bank of Canada raised Newmont Goldcorp from an underperform rating to a sector perform rating and set a $45.00 target price for the company in a research report on Monday, September 9th. Finally, Citigroup increased their target price on Newmont Goldcorp from $44.00 to $46.00 and gave the stock a buy rating in a research report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $43.74.

NEM traded up $0.19 during midday trading on Tuesday, reaching $38.31. 5,089,698 shares of the company’s stock traded hands, compared to its average volume of 9,960,339. The firm has a fifty day moving average of $39.13 and a two-hundred day moving average of $36.23. The stock has a market capitalization of $30.80 billion, a price-to-earnings ratio of 28.38 and a beta of -0.10. 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 has a 52 week low of $29.06 and a 52 week high of $41.23.

Newmont Goldcorp (NYSE:NEM) last released its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.11). The business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.29 billion. Newmont Goldcorp had a negative net margin of 1.03% and a positive return on equity of 4.79%. The company’s revenue for the quarter was up 35.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 EPS. Sell-side analysts forecast that Newmont Goldcorp will post 1.45 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Wednesday, September 11th. Newmont Goldcorp’s dividend payout ratio is currently 41.48%.

In related news, EVP Dean Gehring sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $39.32, for a total value of $137,620.00. Following the sale, the executive vice president now owns 24,810 shares in the company, valued at approximately $975,529.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Thomas Ronald Palmer sold 16,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $35.89, for a total value of $574,240.00. Following the completion of the sale, the president now owns 256,823 shares in the company, valued at approximately $9,217,377.47. The disclosure for this sale can be found here. Insiders sold a total of 80,110 shares of company stock valued at $3,082,602 in the last three months. Corporate insiders own 0.44% of the company’s stock.

Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its stake in shares of Newmont Goldcorp by 27.8% in the 2nd quarter. BlackRock Inc. now owns 109,649,438 shares of the basic materials company’s stock worth $4,218,213,000 after buying an additional 23,820,369 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Newmont Goldcorp by 52.2% in the 2nd quarter. Vanguard Group Inc. now owns 89,715,566 shares of the basic materials company’s stock worth $3,451,358,000 after buying an additional 30,786,889 shares during the last quarter. Van ECK Associates Corp boosted its stake in 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 valued at $1,424,931,000 after purchasing an additional 9,198,168 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Newmont Goldcorp by 32.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,512,764 shares of the basic materials company’s stock valued at $519,836,000 after purchasing an additional 3,328,151 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its stake in Newmont Goldcorp by 2.6% during the 1st quarter. First Eagle Investment Management LLC now owns 12,020,757 shares of the basic materials company’s stock valued at $429,982,000 after purchasing an additional 299,684 shares during the last quarter. Institutional investors own 80.31% 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.

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Analyst Recommendations for Newmont Goldcorp (NYSE:NEM)

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