California Public Employees Retirement System Raises Stake in Newmont Goldcorp Corp (NEM)

California Public Employees Retirement System grew its position in Newmont Goldcorp Corp (NYSE:NEM) by 24.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,443,085 shares of the basic materials company’s stock after purchasing an additional 666,520 shares during the period. California Public Employees Retirement System’s holdings in Newmont Goldcorp were worth $123,159,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Newmont Goldcorp by 9.2% in the fourth quarter. BlackRock Inc. now owns 79,175,130 shares of the basic materials company’s stock valued at $2,743,419,000 after purchasing an additional 6,689,349 shares in the last quarter. Vanguard Group Inc lifted its holdings in shares of Newmont Goldcorp by 1.1% in the third quarter. Vanguard Group Inc now owns 57,312,640 shares of the basic materials company’s stock valued at $1,730,842,000 after purchasing an additional 620,141 shares in the last quarter. Flossbach Von Storch AG lifted its holdings in shares of Newmont Goldcorp by 7.8% in the first quarter. Flossbach Von Storch AG now owns 15,289,352 shares of the basic materials company’s stock valued at $546,900,000 after purchasing an additional 1,107,490 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Newmont Goldcorp by 10.4% in the fourth quarter. Bank of New York Mellon Corp now owns 8,602,670 shares of the basic materials company’s stock valued at $298,082,000 after purchasing an additional 812,109 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Newmont Goldcorp by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 8,229,613 shares of the basic materials company’s stock valued at $284,738,000 after purchasing an additional 60,289 shares in the last quarter. Institutional investors own 87.57% of the company’s stock.

NEM opened at $29.93 on Friday. Newmont Goldcorp Corp has a 52-week low of $29.06 and a 52-week high of $40.84. The stock has a market cap of $25.18 billion, a P/E ratio of 22.17 and a beta of -0.04. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.62 and a current ratio of 2.97.

Newmont Goldcorp (NYSE:NEM) last released its earnings results on Thursday, April 25th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. Newmont Goldcorp had a return on equity of 6.13% and a net margin of 3.26%. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the prior year, the company posted $0.35 earnings per share. Newmont Goldcorp’s revenue was down .8% on a year-over-year basis. Equities research analysts predict that Newmont Goldcorp Corp will post 1.39 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $0.56 annualized dividend and a yield of 1.87%. Newmont Goldcorp’s payout ratio is presently 41.48%.

A number of brokerages have recently commented on NEM. TheStreet lowered Newmont Goldcorp from a “b-” rating to a “c” rating in a report on Wednesday, May 1st. Raymond James restated an “outperform” rating and issued a $47.00 price target on shares of Newmont Goldcorp in a report on Friday, April 26th. Zacks Investment Research upgraded Newmont Goldcorp from a “hold” rating to a “strong-buy” rating and set a $37.00 price target on the stock in a report on Wednesday, April 24th. TD Securities upgraded Newmont Goldcorp from a “hold” rating to a “buy” rating and boosted their price target for the company from $38.00 to $46.00 in a report on Monday, April 22nd. Finally, Deutsche Bank reiterated a “hold” rating and set a $36.00 target price (up previously from $35.00) on shares of Newmont Goldcorp in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $40.96.

In other Newmont Goldcorp news, CEO Gary J. Goldberg sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $30.90, for a total value of $123,600.00. Following the sale, the chief executive officer now owns 129,680 shares in the company, valued at $4,007,112. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Stephen P. Gottesfeld sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $35.06, for a total value of $122,710.00. Following the completion of the sale, the executive vice president now owns 157,264 shares in the company, valued at approximately $5,513,675.84. The disclosure for this sale can be found here. Insiders have sold 43,850 shares of company stock worth $1,544,937 in the last quarter. 0.44% of the stock is currently owned by corporate insiders.

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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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Institutional Ownership by Quarter for Newmont Goldcorp (NYSE:NEM)

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