Newmont Goldcorp (NYSE:NEM) PT Lowered to $41.30

Newmont Goldcorp (NYSE:NEM) had its price target cut by B. Riley from $43.90 to $41.30 in a research report sent to investors on Monday, BenzingaRatingsTable reports. They currently have a neutral rating on the basic materials company’s stock. B. Riley also issued estimates for Newmont Goldcorp’s Q3 2019 earnings at $0.47 EPS, Q4 2019 earnings at $0.51 EPS, FY2019 earnings at $1.43 EPS, FY2020 earnings at $2.33 EPS and FY2021 earnings at $2.64 EPS.

Several other equities research analysts have also commented on NEM. TheStreet lowered Newmont Goldcorp from a b- rating to a c+ rating in a research note on Tuesday, October 1st. BMO Capital Markets raised Newmont Goldcorp from a market perform rating to an outperform rating and boosted their price target for the stock from $45.00 to $50.00 in a research note 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 price target on the stock in a research note on Monday, September 9th. ValuEngine raised Newmont Goldcorp from a strong sell rating to a sell rating in a research note on Friday, October 11th. Finally, Citigroup boosted their price target on Newmont Goldcorp from $44.00 to $46.00 and gave the stock a buy rating in a research note on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Newmont Goldcorp presently has an average rating of Buy and an average price target of $45.66.

NYSE NEM traded up $0.76 on Monday, hitting $39.14. 341,448 shares of the company’s stock were exchanged, compared to its average volume of 6,023,397. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.83 and a quick ratio of 1.38. The firm’s 50-day moving average price is $38.72 and its two-hundred day moving average price is $36.57. Newmont Goldcorp has a fifty-two week low of $29.06 and a fifty-two week high of $41.23. The firm has a market cap of $30.99 billion, a price-to-earnings ratio of 28.99 and a beta of -0.10.

Newmont Goldcorp (NYSE:NEM) last announced its quarterly earnings results 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). The firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.29 billion. Newmont Goldcorp had a positive return on equity of 4.79% and a negative net margin of 1.03%. Newmont Goldcorp’s revenue was up 35.8% compared to the same quarter last year. During the same period last year, the firm earned $0.26 EPS. On average, research analysts predict that Newmont Goldcorp will post 1.35 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.43%. Newmont Goldcorp’s payout ratio is currently 41.48%.

In related news, CAO John Kitlen sold 750 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $37.96, for a total value of $28,470.00. Following the sale, the chief accounting officer now owns 41,173 shares of the company’s stock, valued at approximately $1,562,927.08. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP E Randall Engel sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $38.82, for a total value of $135,870.00. Following the completion of the sale, the executive vice president now directly owns 301,719 shares in the company, valued at approximately $11,712,731.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,555 shares of company stock worth $2,620,824. 0.44% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. Reitz Capital Advisors LLC lifted its stake in shares of Newmont Goldcorp by 6.8% during the 3rd quarter. Reitz Capital Advisors LLC now owns 13,745 shares of the basic materials company’s stock worth $521,000 after purchasing an additional 870 shares during the period. Gables Capital Management Inc. lifted its stake in shares of 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 worth $237,000 after purchasing an additional 656 shares during the period. Winslow Evans & Crocker Inc. lifted its stake in shares of Newmont Goldcorp by 19.8% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 13,906 shares of the basic materials company’s stock worth $536,000 after purchasing an additional 2,296 shares during the period. Norinchukin Bank The lifted its stake in shares of Newmont Goldcorp by 14.3% during the 2nd quarter. Norinchukin Bank The now owns 115,547 shares of the basic materials company’s stock worth $4,445,000 after purchasing an additional 14,449 shares during the period. Finally, Barnett & Company Inc. lifted its stake in shares of Newmont Goldcorp by 42.8% during the 2nd quarter. Barnett & Company Inc. now owns 1,642 shares of the basic materials company’s stock worth $63,000 after purchasing an additional 492 shares during the period. 80.21% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Newmont Goldcorp (NYSE:NEM)

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