Mitsubishi UFJ Kokusai Asset Management Co. Ltd. trimmed its stake in shares of Newmont Goldcorp Corp (NYSE:NEM) by 8.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 195,253 shares of the basic materials company’s stock after selling 19,174 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Newmont Goldcorp were worth $8,841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently made changes to their positions in NEM. Norges Bank bought a new stake in Newmont Goldcorp in the fourth quarter valued at approximately $378,296,000. FMR LLC increased its stake in shares of Newmont Goldcorp by 43.2% in the fourth quarter. FMR LLC now owns 16,488,081 shares of the basic materials company’s stock worth $716,407,000 after buying an additional 4,973,929 shares during the period. First Trust Advisors LP raised its holdings in Newmont Goldcorp by 24,317.1% during the 1st quarter. First Trust Advisors LP now owns 2,324,994 shares of the basic materials company’s stock valued at $105,276,000 after buying an additional 2,315,472 shares during the last quarter. Renaissance Technologies LLC boosted its position in Newmont Goldcorp by 27.1% during the 4th quarter. Renaissance Technologies LLC now owns 9,234,499 shares of the basic materials company’s stock valued at $401,242,000 after buying an additional 1,966,320 shares during the period. Finally, Van ECK Associates Corp grew its holdings in Newmont Goldcorp by 4.7% in the 4th quarter. Van ECK Associates Corp now owns 39,275,253 shares of the basic materials company’s stock worth $1,706,510,000 after acquiring an additional 1,764,699 shares during the last quarter. 81.48% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:NEM traded down $0.43 on Friday, hitting $63.05. 4,491,024 shares of the company traded hands, compared to its average volume of 6,996,463. The stock has a 50 day simple moving average of $59.99 and a 200-day simple moving average of $47.06. The company has a quick ratio of 2.81, a current ratio of 3.31 and a debt-to-equity ratio of 0.29. The company has a market cap of $50.95 billion, a PE ratio of 14.56 and a beta of 0.40. Newmont Goldcorp Corp has a 52 week low of $31.10 and a 52 week high of $69.13.
Newmont Goldcorp (NYSE:NEM) last announced its quarterly earnings data 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). The firm had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Newmont Goldcorp had a net margin of 33.66% and a return on equity of 5.10%. The business’s revenue for the quarter was up 43.2% compared to the same quarter last year. During the same period last year, the company posted $0.33 earnings per share. As a group, sell-side analysts anticipate that Newmont Goldcorp Corp will post 2.47 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th will be issued a dividend of $0.25 per share. This is a boost from Newmont Goldcorp’s previous quarterly dividend of $0.14. The ex-dividend date is Wednesday, June 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.59%. Newmont Goldcorp’s dividend payout ratio is presently 42.42%.
A number of analysts have recently weighed in on the stock. BMO Capital Markets dropped their target price on shares of Newmont Goldcorp from $60.00 to $59.00 and set an “outperform” rating for the company in a report on Thursday, April 2nd. JPMorgan Chase & Co. increased their price objective on Newmont Goldcorp from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Barclays cut shares of Newmont Goldcorp from an “overweight” rating to an “equal weight” rating and set a $58.00 price target on the stock. in a report on Thursday, April 16th. Standpoint Research downgraded shares of Newmont Goldcorp from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Finally, Citigroup upped their price target on Newmont Goldcorp from $46.00 to $70.00 in a research note on Wednesday, May 6th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $69.08.
In related news, CAO John Kitlen sold 1,500 shares of the stock in a transaction 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 sale, the chief accounting officer now directly owns 41,734 shares of the company’s stock, valued at $2,021,177.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Dean Gehring sold 4,000 shares of Newmont Goldcorp stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $48.43, for a total value of $193,720.00. Following the completion of the sale, the executive vice president now owns 24,293 shares of the company’s stock, valued at $1,176,509.99. The disclosure for this sale can be found here. Insiders have sold 108,383 shares of company stock valued at $6,492,212 in the last three months. 0.28% of the stock is owned by insiders.
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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