Tredje AP fonden increased its position in shares of Newmont Goldcorp Corp (NYSE:NEM) by 19.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,794 shares of the basic materials company’s stock after buying an additional 9,848 shares during the period. Tredje AP fonden’s holdings in Newmont Goldcorp were worth $2,785,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the business. Van ECK Associates Corp increased its stake in shares of Newmont Goldcorp by 4.7% in the fourth quarter. Van ECK Associates Corp now owns 39,275,253 shares of the basic materials company’s stock worth $1,706,510,000 after buying an additional 1,764,699 shares during the last quarter. State Street Corp raised its holdings in shares of Newmont Goldcorp by 0.3% during the fourth quarter. State Street Corp now owns 38,193,895 shares of the basic materials company’s stock worth $1,659,525,000 after acquiring an additional 107,927 shares in the last quarter. FMR LLC lifted 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 valued at $716,407,000 after buying an additional 4,973,929 shares during the last quarter. Renaissance Technologies LLC grew its position in Newmont Goldcorp by 27.1% in the fourth 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. Finally, Norges Bank acquired a new position in shares of Newmont Goldcorp during the 4th quarter valued at about $378,296,000. 81.48% of the stock is owned by institutional investors.
In other Newmont Goldcorp news, CEO Thomas Ronald Palmer sold 4,000 shares of the business’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $45.04, for a total value of $180,160.00. Following the transaction, the chief executive officer now directly owns 286,597 shares in the company, valued at $12,908,328.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO John Kitlen sold 1,500 shares of Newmont Goldcorp stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $48.43, for a total transaction of $72,645.00. Following the completion of the sale, the chief accounting officer now directly owns 41,734 shares in the company, valued at approximately $2,021,177.62. The disclosure for this sale can be found here. Insiders have sold 108,383 shares of company stock valued at $6,492,212 over the last quarter. Corporate insiders own 0.28% of the company’s stock.
A number of equities analysts recently issued reports on NEM shares. Standpoint Research lowered shares of Newmont Goldcorp from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Bank of America reiterated a “buy” rating and issued a $82.00 target price (up previously from $73.00) on shares of Newmont Goldcorp in a research note on Wednesday, May 6th. Royal Bank of Canada reaffirmed a “hold” rating and set a $48.00 price objective on shares of Newmont Goldcorp in a report on Thursday, April 30th. Deutsche Bank boosted their price target on shares of Newmont Goldcorp from $54.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. raised their target price on Newmont Goldcorp from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $69.08.
Shares of Newmont Goldcorp stock traded down $0.43 on Friday, hitting $63.05. The stock had a trading volume of 4,491,024 shares, compared to its average volume of 6,996,463. The stock has a 50 day moving average of $59.99 and a 200 day moving average of $47.06. The firm has a market capitalization of $50.95 billion, a P/E ratio of 14.56 and a beta of 0.40. Newmont Goldcorp Corp has a twelve month low of $31.10 and a twelve month high of $69.13. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.81 and a current ratio of 3.31.
Newmont Goldcorp (NYSE:NEM) last announced its earnings results on Tuesday, May 5th. The basic materials company reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 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 $2.58 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period in the previous year, the firm posted $0.33 earnings per share. The firm’s quarterly revenue was up 43.2% compared to the same quarter last year. Equities analysts expect that Newmont Goldcorp Corp will post 2.47 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, June 4th will be issued a $0.25 dividend. This is a boost from Newmont Goldcorp’s previous quarterly dividend of $0.14. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Wednesday, June 3rd. Newmont Goldcorp’s dividend payout ratio (DPR) is currently 42.42%.
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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