Newmont Goldcorp Corp (NYSE:NEM) EVP Stephen P. Gottesfeld sold 12,000 shares of the stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $69.00, for a total transaction of $828,000.00. Following the sale, the executive vice president now directly owns 138,944 shares in the company, valued at approximately $9,587,136. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of NEM opened at $69.20 on Friday. The company has a current ratio of 3.31, a quick ratio of 2.81 and a debt-to-equity ratio of 0.29. The firm has a market cap of $55.54 billion, a PE ratio of 15.98 and a beta of 0.34. The company’s 50 day simple moving average is $61.12 and its 200-day simple moving average is $54.20. Newmont Goldcorp Corp has a 12-month low of $33.00 and a 12-month high of $70.30.
Newmont Goldcorp (NYSE:NEM) last issued its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.02). Newmont Goldcorp had a return on equity of 5.10% and a net margin of 33.66%. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.37 billion. As a group, equities research analysts forecast that Newmont Goldcorp Corp will post 2.52 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of NEM. Harwood Advisory Group LLC acquired a new stake in shares of Newmont Goldcorp during the first quarter worth $25,000. Tarbox Family Office Inc. lifted its holdings in shares of Newmont Goldcorp by 73.8% during the first quarter. Tarbox Family Office Inc. now owns 570 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 242 shares during the period. Lenox Wealth Management Inc. lifted its holdings in shares of Newmont Goldcorp by 608.2% during the first quarter. Lenox Wealth Management Inc. now owns 602 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 517 shares during the period. Jaffetilchin Investment Partners LLC acquired a new stake in shares of Newmont Goldcorp during the second quarter worth $27,000. Finally, Allworth Financial LP lifted its holdings in shares of Newmont Goldcorp by 3,200.0% during the first quarter. Allworth Financial LP now owns 825 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 800 shares during the period. 81.29% of the stock is owned by hedge funds and other institutional investors.
NEM has been the topic of several research reports. Raymond James increased their price target on shares of Newmont Goldcorp from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday. B. Riley raised their target price on shares of Newmont Goldcorp from $96.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, May 19th. TD Securities raised their target price on shares of Newmont Goldcorp from $81.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. UBS Group raised their target price on shares of Newmont Goldcorp from $46.00 to $58.00 and gave the company a “neutral” rating in a report on Friday, April 17th. Finally, Barclays increased their price target on shares of Newmont Goldcorp from $58.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, July 20th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $71.08.
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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