Newmont Goldcorp (NEM) Issues Quarterly Earnings Results

Newmont Goldcorp (NYSE:NEM) posted its quarterly earnings data on Thursday. The basic materials company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07, MarketWatch Earnings reports. Newmont Goldcorp had a net margin of 4.70% and a return on equity of 6.19%. The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.81 billion. During the same period in the previous year, the company posted $0.35 EPS. The company’s quarterly revenue was down .8% compared to the same quarter last year.

Newmont Goldcorp stock opened at $31.46 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.60 and a current ratio of 2.95. Newmont Goldcorp has a 12 month low of $29.06 and a 12 month high of $40.91. The firm has a market cap of $16.81 billion, a PE ratio of 23.30 and a beta of 0.01.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Wednesday, June 5th. Newmont Goldcorp’s dividend payout ratio is currently 41.48%.

In other news, EVP Scott P. Lawson sold 5,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $35.81, for a total transaction of $179,050.00. Following the transaction, the executive vice president now directly owns 133,545 shares in the company, valued at approximately $4,782,246.45. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Gary J. Goldberg sold 4,000 shares of the business’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $34.13, for a total transaction of $136,520.00. Following the transaction, the chief executive officer now owns 137,797 shares in the company, valued at $4,703,011.61. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,850 shares of company stock worth $1,469,194. 0.44% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Newmont Goldcorp in the 4th quarter valued at $1,157,000. Duality Advisers LP acquired a new stake in shares of Newmont Goldcorp in the 4th quarter valued at $3,130,000. Essex Investment Management Co. LLC lifted its stake in shares of Newmont Goldcorp by 31.8% in the 4th quarter. Essex Investment Management Co. LLC now owns 59,190 shares of the basic materials company’s stock valued at $2,051,000 after purchasing an additional 14,293 shares during the last quarter. LPL Financial LLC lifted its stake in shares of Newmont Goldcorp by 6.7% in the 4th quarter. LPL Financial LLC now owns 52,190 shares of the basic materials company’s stock valued at $1,808,000 after purchasing an additional 3,268 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. lifted its stake in shares of Newmont Goldcorp by 256.5% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 295,601 shares of the basic materials company’s stock valued at $8,960,000 after purchasing an additional 212,680 shares during the last quarter. Institutional investors and hedge funds own 87.42% of the company’s stock.

NEM has been the topic of several research analyst reports. TheStreet upgraded shares of Newmont Goldcorp from a “c” rating to a “b-” rating in a research report on Thursday, February 21st. Credit Suisse Group reiterated a “buy” rating on shares of Newmont Goldcorp in a research report on Wednesday, January 16th. Zacks Investment Research upgraded shares of Newmont Goldcorp from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research report on Tuesday, February 12th. Canaccord Genuity upgraded shares of Newmont Goldcorp from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $37.00 to $42.00 in a research report on Tuesday, January 15th. Finally, Barclays reiterated a “buy” rating and set a $39.00 price objective on shares of Newmont Goldcorp in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $40.96.

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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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Earnings History for Newmont Goldcorp (NYSE:NEM)

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