Newmont Goldcorp (NYSE:NEM) had its price target increased by B. Riley from $96.00 to $97.00 in a report released on Tuesday, BenzingaRatingsTable reports. They currently have a buy rating on the basic materials company’s stock. B. Riley also issued estimates for Newmont Goldcorp’s Q2 2020 earnings at $0.44 EPS, Q3 2020 earnings at $1.49 EPS, Q4 2020 earnings at $1.72 EPS, FY2020 earnings at $4.06 EPS, FY2021 earnings at $6.86 EPS and FY2022 earnings at $6.58 EPS.
A number of other research analysts also recently weighed in on the company. Citigroup upped their price target on Newmont Goldcorp from $46.00 to $70.00 in a research note on Wednesday, May 6th. UBS Group upped their price target on Newmont Goldcorp from $46.00 to $58.00 and gave the stock a neutral rating in a research note on Friday, April 17th. Raymond James upped their price target on Newmont Goldcorp from $68.00 to $73.00 and gave the stock an outperform rating in a research note on Wednesday, May 6th. Deutsche Bank upped their price target on Newmont Goldcorp from $54.00 to $70.00 and gave the stock a buy rating in a research note on Wednesday, May 6th. Finally, Barclays lowered Newmont Goldcorp from an overweight rating to an equal weight rating and set a $58.00 price objective for the company. in a report on Thursday, April 16th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Newmont Goldcorp currently has a consensus rating of Buy and an average target price of $69.08.
Shares of NYSE:NEM traded down $0.43 during midday trading on Tuesday, reaching $63.05. The company’s stock had a trading volume of 4,491,024 shares, compared to its average volume of 6,996,463. The firm has a market capitalization of $50.95 billion, a price-to-earnings ratio of 14.56 and a beta of 0.40. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.81 and a current ratio of 3.31. The firm has a 50 day moving average price of $59.99 and a two-hundred day moving average price of $47.06. Newmont Goldcorp has a fifty-two week low of $31.10 and a fifty-two week high of $69.13.
Newmont Goldcorp (NYSE:NEM) last posted its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.02). Newmont Goldcorp had a return on equity of 5.10% and a net margin of 33.66%. The firm had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period last year, the company posted $0.33 earnings per share. The firm’s quarterly revenue was up 43.2% compared to the same quarter last year. As a group, research analysts anticipate that Newmont Goldcorp will post 2.47 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, June 3rd. This is a positive change from Newmont Goldcorp’s previous quarterly dividend of $0.14. This represents a $1.00 annualized dividend and a dividend yield of 1.59%. Newmont Goldcorp’s dividend payout ratio is currently 42.42%.
In other news, EVP E Randall Engel sold 67,982 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $65.33, for a total value of $4,441,264.06. Following the completion of the transaction, the executive vice president now directly owns 342,823 shares of the company’s stock, valued at $22,396,626.59. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Dean Gehring sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $48.43, for a total value of $193,720.00. Following the completion of the transaction, the executive vice president now directly owns 24,293 shares of the company’s stock, valued at $1,176,509.99. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 108,383 shares of company stock valued at $6,492,212. 0.28% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Successful Portfolios LLC lifted its stake in Newmont Goldcorp by 3.0% in the first quarter. Successful Portfolios LLC now owns 7,613 shares of the basic materials company’s stock valued at $345,000 after purchasing an additional 221 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Newmont Goldcorp by 1.5% in the first quarter. Pacer Advisors Inc. now owns 15,662 shares of the basic materials company’s stock valued at $928,000 after purchasing an additional 230 shares during the last quarter. Wealth Quarterback LLC lifted its stake in Newmont Goldcorp by 23.5% in the first quarter. Wealth Quarterback LLC now owns 1,219 shares of the basic materials company’s stock valued at $55,000 after purchasing an additional 232 shares during the last quarter. Tarbox Family Office Inc. lifted its stake in Newmont Goldcorp by 73.8% in the first quarter. Tarbox Family Office Inc. now owns 570 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 242 shares during the last quarter. Finally, Wealthspire Advisors L.P. lifted its stake in Newmont Goldcorp by 4.3% in the fourth quarter. Wealthspire Advisors L.P. now owns 5,910 shares of the basic materials company’s stock valued at $257,000 after purchasing an additional 244 shares during the last quarter. 81.48% of the stock is owned by institutional investors.
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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