Cidel Asset Management Inc. acquired a new stake in shares of Newmont Goldcorp Corp (NYSE:NEM) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,633 shares of the basic materials company’s stock, valued at approximately $253,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rational Advisors LLC grew its stake in shares of 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 purchasing an additional 306 shares during the last quarter. Delek Group Ltd. purchased a new stake in Newmont Goldcorp during the 2nd quarter worth approximately $26,309,000. Corient Capital Partners LLC purchased a new stake in Newmont Goldcorp during the 2nd quarter worth approximately $288,000. Wellington Shields & Co. LLC increased its stake in Newmont Goldcorp by 4.6% during the 2nd quarter. Wellington Shields & Co. LLC now owns 21,923 shares of the basic materials company’s stock worth $843,000 after buying an additional 973 shares during the period. Finally, Carillon Tower Advisers Inc. increased its stake in Newmont Goldcorp by 15.1% during the 2nd quarter. Carillon Tower Advisers Inc. now owns 462,600 shares of the basic materials company’s stock worth $17,796,000 after buying an additional 60,550 shares during the period. 80.40% of the stock is owned by institutional investors and hedge funds.
Shares of NEM traded up $0.18 during mid-day trading on Friday, reaching $38.84. 40,052 shares of the stock traded hands, compared to its average volume of 6,997,110. The firm has a market cap of $31.29 billion, a price-to-earnings ratio of 28.82 and a beta of -0.03. The stock has a fifty day simple moving average of $38.69 and a 200 day simple moving average of $35.73. Newmont Goldcorp Corp has a 12-month low of $29.06 and a 12-month high of $41.23. The company has a quick ratio of 1.38, a current ratio of 1.83 and a debt-to-equity ratio of 0.30.
Newmont Goldcorp (NYSE:NEM) last released its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.29 billion. During the same period in the previous year, the business posted $0.26 EPS. The firm’s quarterly revenue was up 35.8% compared to the same quarter last year. On average, equities research analysts expect that Newmont Goldcorp Corp will post 1.47 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Wednesday, September 11th. Newmont Goldcorp’s dividend payout ratio is presently 41.48%.
In other Newmont Goldcorp news, VP John Kitlen sold 750 shares of Newmont Goldcorp stock in a transaction on Monday, July 8th. The shares were sold at an average price of $38.63, for a total value of $28,972.50. Following the completion of the transaction, the vice president now owns 43,423 shares of the company’s stock, valued at $1,677,430.49. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Nancy Buese sold 7,500 shares of Newmont Goldcorp stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $40.96, for a total transaction of $307,200.00. Following the completion of the transaction, the chief financial officer now directly owns 44,944 shares of the company’s stock, valued at approximately $1,840,906.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 88,915 shares of company stock valued at $3,413,745. 0.44% of the stock is currently owned by corporate insiders.
Several equities research analysts recently weighed in on the stock. Royal Bank of Canada raised shares of Newmont Goldcorp from an “underperform” rating to a “sector perform” rating and set a $45.00 target price on the stock in a research note on Monday. Citigroup upped their target price on shares of Newmont Goldcorp from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday. Deutsche Bank set a $41.00 price target on shares of Newmont Goldcorp and gave the stock a “hold” rating in a report on Thursday, July 11th. B. Riley upped their target price on shares of Newmont Goldcorp from $35.10 to $45.40 and gave the company a “neutral” rating in a report on Monday. Finally, TD Securities cut their price objective on shares of Newmont Goldcorp from $52.00 to $50.00 and set an “action list buy” rating for the company in a research report on Monday, August 19th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $43.56.
Newmont Goldcorp Profile
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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