Newmont Goldcorp Corp (NYSE:NEM) – Investment analysts at B. Riley dropped their Q3 2019 earnings estimates for shares of Newmont Goldcorp in a research note issued to investors on Monday, October 21st. B. Riley analyst A. Graf now anticipates that the basic materials company will post earnings per share of $0.47 for the quarter, down from their previous forecast of $0.62. B. Riley currently has a “Neutral” rating and a $41.30 price target on the stock. B. Riley also issued estimates for Newmont Goldcorp’s Q4 2019 earnings at $0.51 EPS, FY2020 earnings at $2.33 EPS and FY2021 earnings at $2.64 EPS.
Newmont Goldcorp (NYSE:NEM) last posted its 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). Newmont Goldcorp had a positive return on equity of 4.79% and a negative net margin of 1.03%. The company had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the prior year, the business posted $0.26 earnings per share. The company’s revenue for the quarter was up 35.8% on a year-over-year basis.
NYSE:NEM opened at $39.10 on Wednesday. The company has a 50-day moving average price of $38.69 and a 200-day moving average price of $36.58. Newmont Goldcorp has a 12 month low of $29.06 and a 12 month high of $41.23. 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 cap of $30.99 billion, a price-to-earnings ratio of 28.96 and a beta of -0.10.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.43%. Newmont Goldcorp’s dividend payout ratio (DPR) is currently 41.48%.
In other Newmont Goldcorp news, CEO Gary J. Goldberg sold 4,000 shares of Newmont Goldcorp stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $35.93, for a total value of $143,720.00. Following the completion of the transaction, the chief executive officer now directly owns 129,680 shares of the company’s stock, valued at $4,659,402.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP E Randall Engel sold 3,500 shares of Newmont Goldcorp stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $38.82, for a total transaction of $135,870.00. Following the completion of the transaction, the executive vice president now directly owns 301,719 shares of the company’s stock, valued at $11,712,731.58. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,555 shares of company stock valued at $2,620,824. 0.44% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the business. Private Capital Group LLC raised its holdings in Newmont Goldcorp by 10.3% in the second quarter. Private Capital Group LLC now owns 3,061 shares of the basic materials company’s stock worth $115,000 after buying an additional 287 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in Newmont Goldcorp by 65.6% in the second quarter. Parkside Financial Bank & Trust now owns 760 shares of the basic materials company’s stock worth $29,000 after buying an additional 301 shares during the last quarter. 6 Meridian raised its holdings in Newmont Goldcorp by 2.0% in the second quarter. 6 Meridian now owns 15,313 shares of the basic materials company’s stock worth $589,000 after buying an additional 302 shares during the last quarter. Rational Advisors LLC raised its holdings in Newmont Goldcorp by 16.0% in the second quarter. Rational Advisors LLC now owns 2,222 shares of the basic materials company’s stock worth $86,000 after buying an additional 306 shares during the last quarter. Finally, Huntington National Bank raised its holdings in Newmont Goldcorp by 32.0% in the second quarter. Huntington National Bank now owns 1,294 shares of the basic materials company’s stock worth $50,000 after buying an additional 314 shares during the last quarter. 80.21% of the stock is owned by institutional investors and hedge funds.
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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