Newmont Goldcorp Corp (NYSE:NEM) CEO Thomas Ronald Palmer Sells 5,150 Shares

Newmont Goldcorp Corp (NYSE:NEM) CEO Thomas Ronald Palmer sold 5,150 shares of Newmont Goldcorp stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $61.77, for a total value of $318,115.50. Following the transaction, the chief executive officer now directly owns 273,447 shares in the company, valued at $16,890,821.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Thomas Ronald Palmer also recently made the following trade(s):

  • On Monday, June 1st, Thomas Ronald Palmer sold 4,000 shares of Newmont Goldcorp stock. The stock was sold at an average price of $58.81, for a total value of $235,240.00.
  • On Friday, May 1st, Thomas Ronald Palmer sold 4,000 shares of Newmont Goldcorp stock. The stock was sold at an average price of $58.67, for a total value of $234,680.00.

NYSE:NEM opened at $60.96 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.31 and a quick ratio of 2.81. Newmont Goldcorp Corp has a fifty-two week low of $33.00 and a fifty-two week high of $69.13. The stock’s 50-day moving average is $59.55 and its two-hundred day moving average is $51.18. The stock has a market cap of $48.93 billion, a PE ratio of 44.17 and a beta of 0.34.

Newmont Goldcorp (NYSE:NEM) last announced its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.02). The firm had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.66 billion. Newmont Goldcorp had a net margin of 33.66% and a return on equity of 5.10%. The firm’s quarterly revenue was up 43.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.33 earnings per share. On average, equities research analysts anticipate that Newmont Goldcorp Corp will post 2.38 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.64%. This is a positive change from Newmont Goldcorp’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Wednesday, June 3rd. Newmont Goldcorp’s payout ratio is currently 75.76%.

Several institutional investors have recently made changes to their positions in NEM. Harwood Advisory Group LLC acquired a new stake in shares of Newmont Goldcorp during the 1st quarter valued at about $25,000. Tarbox Family Office Inc. lifted its holdings in shares of Newmont Goldcorp by 73.8% during the 1st quarter. Tarbox Family Office Inc. now owns 570 shares of the basic materials company’s stock valued at $26,000 after buying an additional 242 shares during the last quarter. Lenox Wealth Management Inc. lifted its holdings in shares of Newmont Goldcorp by 608.2% during the 1st quarter. Lenox Wealth Management Inc. now owns 602 shares of the basic materials company’s stock valued at $27,000 after buying an additional 517 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Newmont Goldcorp by 3,200.0% during the 1st quarter. Allworth Financial LP now owns 825 shares of the basic materials company’s stock valued at $37,000 after buying an additional 800 shares during the last quarter. Finally, Wealth Quarterback LLC acquired a new stake in Newmont Goldcorp in the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

A number of research analysts recently issued reports on the company. Deutsche Bank lifted their target price on Newmont Goldcorp from $70.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. TD Securities lifted their price target on Newmont Goldcorp from $81.00 to $83.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. UBS Group lifted their price target on Newmont Goldcorp from $46.00 to $58.00 and gave the stock a “neutral” rating in a research note on Friday, April 17th. BMO Capital Markets dropped their price target on Newmont Goldcorp from $60.00 to $59.00 and set an “outperform” rating on the stock in a research note on Thursday, April 2nd. Finally, Bank of America reissued a “buy” rating and issued a $82.00 price target (up previously from $73.00) on shares of Newmont Goldcorp in a research note on Wednesday, May 6th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Newmont Goldcorp presently has an average rating of “Buy” and an average price target of $69.42.

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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Insider Buying and Selling by Quarter for Newmont Goldcorp (NYSE:NEM)

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