Capital International Sarl Decreases Stock Holdings in Newmont Goldcorp Corp (NYSE:NEM)

Capital International Sarl trimmed its position in shares of Newmont Goldcorp Corp (NYSE:NEM) by 48.2% during the 4th quarter, Holdings Channel reports. The fund owned 69,040 shares of the basic materials company’s stock after selling 64,255 shares during the period. Capital International Sarl’s holdings in Newmont Goldcorp were worth $3,000,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NEM. FMR LLC raised its holdings in shares of Newmont Goldcorp by 43.2% during the 4th quarter. FMR LLC now owns 16,488,081 shares of the basic materials company’s stock worth $716,407,000 after acquiring an additional 4,973,929 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Newmont Goldcorp by 27.1% during the 4th quarter. Renaissance Technologies LLC now owns 9,234,499 shares of the basic materials company’s stock worth $401,242,000 after acquiring an additional 1,966,320 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Newmont Goldcorp by 4.7% during the 4th quarter. Van ECK Associates Corp now owns 39,275,253 shares of the basic materials company’s stock worth $1,706,510,000 after acquiring an additional 1,764,699 shares in the last quarter. Boston Partners raised its holdings in shares of Newmont Goldcorp by 1,167.1% during the 3rd quarter. Boston Partners now owns 1,000,711 shares of the basic materials company’s stock worth $37,947,000 after acquiring an additional 921,736 shares in the last quarter. Finally, Phoenix Holdings Ltd. purchased a new stake in shares of Newmont Goldcorp during the 3rd quarter worth approximately $25,973,000. 82.66% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently weighed in on NEM. BMO Capital Markets decreased their price target on Newmont Goldcorp from $50.00 to $47.00 and set an “outperform” rating on the stock in a report on Tuesday, December 3rd. They noted that the move was a valuation call. Royal Bank of Canada restated a “hold” rating and set a $48.00 price target on shares of Newmont Goldcorp in a report on Wednesday. B. Riley increased their price target on Newmont Goldcorp from $54.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, March 11th. CIBC upgraded Newmont Goldcorp from a “neutral” rating to an “outperform” rating and set a $58.00 price target on the stock in a report on Sunday, February 23rd. Finally, Eight Capital began coverage on Newmont Goldcorp in a report on Monday, December 16th. They set a “hold” rating on the stock. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $49.42.

NYSE:NEM traded up $0.14 during midday trading on Thursday, hitting $47.68. 5,028,543 shares of the company traded hands, compared to its average volume of 13,253,502. The firm’s fifty day moving average is $45.55 and its 200-day moving average is $41.50. Newmont Goldcorp Corp has a 12-month low of $29.77 and a 12-month high of $52.49. The firm has a market capitalization of $38.37 billion, a P/E ratio of 13.74 and a beta of 0.15. The company has a current ratio of 2.63, a quick ratio of 2.20 and a debt-to-equity ratio of 0.30.

Newmont Goldcorp (NYSE:NEM) last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.02. The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.02 billion. Newmont Goldcorp had a return on equity of 5.07% and a net margin of 28.80%. Newmont Goldcorp’s quarterly revenue was up 44.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.40 EPS. On average, research analysts expect that Newmont Goldcorp Corp will post 2.27 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Thursday, March 5th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Wednesday, March 4th. Newmont Goldcorp’s dividend payout ratio (DPR) is presently 42.42%.

Newmont Goldcorp declared that its Board of Directors has approved a stock buyback plan on Monday, December 2nd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the basic materials company to buy up to 3.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

In other Newmont Goldcorp news, EVP Jennifer Cmil sold 2,570 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.20, for a total value of $111,024.00. Following the transaction, the executive vice president now owns 24,391 shares of the company’s stock, valued at approximately $1,053,691.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO John Kitlen sold 1,500 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $43.78, for a total value of $65,670.00. Following the completion of the transaction, the chief accounting officer now directly owns 38,173 shares in the company, valued at approximately $1,671,213.94. The disclosure for this sale can be found here. Insiders sold a total of 32,650 shares of company stock worth $1,467,109 in the last ninety days. 0.28% of the stock is currently owned by corporate insiders.

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.

See Also: Backdoor Roth IRA Conversion and Strategy

Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Goldcorp Corp (NYSE:NEM).

Institutional Ownership by Quarter for Newmont Goldcorp (NYSE:NEM)

Receive News & Ratings for Newmont Goldcorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmont Goldcorp and related companies with MarketBeat.com's FREE daily email newsletter.