Virginia Retirement Systems ET AL raised its holdings in shares of Newmont Goldcorp Corp (NYSE:NEM) by 484.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 884,100 shares of the basic materials company’s stock after acquiring an additional 732,800 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Newmont Goldcorp were worth $34,011,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. 6 Meridian boosted its position in shares of Newmont Goldcorp by 2.0% in the 2nd quarter. 6 Meridian now owns 15,313 shares of the basic materials company’s stock valued at $589,000 after purchasing an additional 302 shares during the period. Huntington National Bank boosted its position in shares of Newmont Goldcorp by 32.0% in the 2nd quarter. Huntington National Bank now owns 1,294 shares of the basic materials company’s stock valued at $50,000 after purchasing an additional 314 shares during the period. CAPROCK Group Inc. boosted its position in shares of Newmont Goldcorp by 3.2% in the 1st quarter. CAPROCK Group Inc. now owns 10,296 shares of the basic materials company’s stock valued at $368,000 after purchasing an additional 316 shares during the period. Baystate Wealth Management LLC boosted its position in shares of Newmont Goldcorp by 35.5% in the 1st quarter. Baystate Wealth Management LLC now owns 1,251 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 328 shares during the period. Finally, Conning Inc. boosted its position in shares of Newmont Goldcorp by 3.8% in the 1st quarter. Conning Inc. now owns 9,538 shares of the basic materials company’s stock valued at $341,000 after purchasing an additional 350 shares during the period. 61.55% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently issued reports on NEM shares. Zacks Investment Research cut Newmont Goldcorp from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Deutsche Bank set a $41.00 target price on Newmont Goldcorp and gave the company a “hold” rating in a research report on Thursday, July 11th. Royal Bank of Canada decreased their target price on Newmont Goldcorp to $39.00 and set an “underperform” rating for the company in a research report on Monday, April 8th. BMO Capital Markets started coverage on Newmont Goldcorp in a research report on Wednesday, July 3rd. They issued a “market perform” rating and a $45.00 target price for the company. Finally, Barclays reissued a “buy” rating and issued a $44.00 target price on shares of Newmont Goldcorp in a research report on Sunday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Newmont Goldcorp presently has an average rating of “Buy” and an average target price of $41.76.
NEM traded up $0.39 on Tuesday, hitting $37.81. 594,091 shares of the company traded hands, compared to its average volume of 7,302,387. The stock’s 50 day moving average is $38.15. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.83 and a quick ratio of 1.38. The firm has a market cap of $31.14 billion, a PE ratio of 27.98 and a beta of 0.03. Newmont Goldcorp Corp has a 12-month low of $29.06 and a 12-month high of $40.33.
Newmont Goldcorp (NYSE:NEM) last posted its quarterly earnings data on Thursday, July 25th. The basic materials company reported $0.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.11). The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.29 billion. Newmont Goldcorp had a negative net margin of 1.03% and a positive return on equity of 4.79%. The firm’s revenue was up 35.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.26 earnings per share. Equities analysts expect that Newmont Goldcorp Corp will post 1.21 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Wednesday, September 11th. Newmont Goldcorp’s dividend payout ratio is presently 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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