Raymond James set a $51.00 price target on Newmont Goldcorp (NYSE:NEM) in a research note issued to investors on Wednesday, BayStreet.CA reports. The brokerage currently has an outperform rating on the basic materials company’s stock. Raymond James also issued estimates for Newmont Goldcorp’s Q4 2019 earnings at $0.37 EPS, FY2019 earnings at $0.98 EPS, Q1 2020 earnings at $0.50 EPS, Q2 2020 earnings at $0.54 EPS and FY2020 earnings at $2.20 EPS.
NEM has been the topic of several other reports. Citigroup increased their target price on Newmont Goldcorp from $44.00 to $46.00 and gave the stock a buy rating in a report on Wednesday, September 11th. TheStreet lowered Newmont Goldcorp from a b- rating to a c+ rating in a research note on Tuesday, October 1st. BMO Capital Markets raised Newmont Goldcorp from a market perform rating to an outperform rating and raised their price objective for the company from $45.00 to $50.00 in a research note on Wednesday, September 11th. TD Securities reduced their price objective on Newmont Goldcorp from $52.00 to $50.00 and set an action list buy rating on the stock in a research note on Monday, August 19th. Finally, B. Riley reduced their price objective on Newmont Goldcorp from $43.90 to $41.30 and set a neutral rating on the stock in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $46.13.
NEM opened at $36.61 on Wednesday. The firm has a market cap of $30.79 billion, a P/E ratio of 27.12 and a beta of -0.05. Newmont Goldcorp has a 52-week low of $29.77 and a 52-week high of $41.23. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.38 and a current ratio of 2.18. The business’s fifty day moving average is $38.57 and its 200-day moving average is $36.82.
Newmont Goldcorp (NYSE:NEM) last released its earnings results on Tuesday, November 5th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.03). The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.83 billion. Newmont Goldcorp had a return on equity of 4.71% and a net margin of 25.42%. The business’s revenue for the quarter was up 57.2% compared to the same quarter last year. During the same period last year, the company posted $0.33 earnings per share. On average, research analysts predict that Newmont Goldcorp will post 1.32 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be given a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.56 annualized dividend and a yield of 1.53%. Newmont Goldcorp’s dividend payout ratio is presently 41.48%.
In other news, CFO Nancy Buese sold 7,500 shares of the firm’s stock in a transaction dated 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 in the company, valued at $1,840,906.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas Ronald Palmer sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $37.56, for a total value of $150,240.00. Following the transaction, the chief executive officer now owns 250,073 shares of the company’s stock, valued at $9,392,741.88. The disclosure for this sale can be found here. Insiders sold 45,805 shares of company stock valued at $1,811,632 over the last quarter. Corporate insiders own 0.44% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Advantage Investment Management LLC grew its stake in Newmont Goldcorp by 556.0% during the second quarter. Advantage Investment Management LLC now owns 656 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 556 shares during the period. Sterling Investment Advisors Ltd. acquired a new stake in Newmont Goldcorp during the second quarter worth approximately $25,000. Valley National Advisers Inc. grew its stake in Newmont Goldcorp by 1,212.0% during the second quarter. Valley National Advisers Inc. now owns 656 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 606 shares during the period. Reilly Financial Advisors LLC acquired a new stake in Newmont Goldcorp during the third quarter worth approximately $26,000. Finally, Edge Wealth Management LLC acquired a new stake in Newmont Goldcorp during the second quarter worth approximately $27,000. Institutional investors own 80.05% of the company’s stock.
Newmont Goldcorp Company 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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