Brokerages Set Newmont Goldcorp Corp (NEM) PT at $40.39

Shares of Newmont Goldcorp Corp (NYSE:NEM) have been given an average recommendation of “Hold” by the eighteen ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $40.65.

A number of analysts have issued reports on NEM shares. TheStreet raised Newmont Goldcorp from a “c” rating to a “b-” rating in a research note on Thursday, February 21st. Barclays reaffirmed a “buy” rating and issued a $39.00 target price on shares of Newmont Goldcorp in a research note on Thursday, March 28th. Zacks Investment Research raised Newmont Goldcorp from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Tuesday, February 12th. Credit Suisse Group reaffirmed a “buy” rating on shares of Newmont Goldcorp in a research note on Wednesday, January 16th. Finally, Desjardins reaffirmed a “buy” rating and issued a $43.00 target price on shares of Newmont Goldcorp in a research note on Thursday, April 4th.

In related news, EVP Stephen P. Gottesfeld sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $35.06, for a total transaction of $122,710.00. Following the completion of the sale, the executive vice president now directly owns 157,264 shares of the company’s stock, valued at approximately $5,513,675.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Thomas Ronald Palmer sold 1,250 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $33.90, for a total value of $42,375.00. Following the sale, the chief operating officer now directly owns 277,823 shares of the company’s stock, valued at $9,418,199.70. The disclosure for this sale can be found here. Insiders have sold a total of 43,850 shares of company stock valued at $1,544,937 over the last three months. Corporate insiders own 0.44% of the company’s stock.

Several large investors have recently modified their holdings of NEM. Assetmark Inc. acquired a new stake in shares of Newmont Goldcorp during the 1st quarter worth about $25,000. Archford Capital Strategies LLC boosted its holdings in Newmont Goldcorp by 66.7% during the 4th quarter. Archford Capital Strategies LLC now owns 750 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 300 shares during the period. First Mercantile Trust Co. boosted its holdings in Newmont Goldcorp by 70.2% during the 4th quarter. First Mercantile Trust Co. now owns 800 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 330 shares during the period. Bessemer Group Inc. boosted its holdings in Newmont Goldcorp by 377.3% during the 4th quarter. Bessemer Group Inc. now owns 840 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 664 shares during the period. Finally, Berman Capital Advisors LLC purchased a new position in Newmont Goldcorp during the 4th quarter valued at about $30,000. 87.57% of the stock is owned by hedge funds and other institutional investors.

NYSE NEM traded down $0.28 during mid-day trading on Thursday, hitting $30.55. The stock had a trading volume of 5,329,488 shares, compared to its average volume of 11,562,143. Newmont Goldcorp has a twelve month low of $29.06 and a twelve month high of $40.03. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.62 and a current ratio of 2.97. The company has a market cap of $25.33 billion, a P/E ratio of 22.63 and a beta of -0.04.

Newmont Goldcorp (NYSE:NEM) last issued its earnings results on Thursday, April 25th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.81 billion. During the same period last year, the company earned $0.35 EPS. The company’s revenue for the quarter was down .8% on a year-over-year basis. As a group, sell-side analysts predict that Newmont Goldcorp will post 1.39 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Wednesday, June 5th. Newmont Goldcorp’s payout ratio is 41.48%.

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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Analyst Recommendations for Newmont Goldcorp (NYSE:NEM)

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