Raymond James set a $51.00 target price on Newmont Goldcorp (NYSE:NEM) in a report published on Wednesday, BayStreet.CA reports. The firm currently has an outperform rating on the basic materials company’s stock. Raymond James also issued estimates for Newmont Goldcorp’s Q4 2019 earnings at $0.37 EPS, FY2019 earnings at $0.98 EPS, Q1 2020 earnings at $0.50 EPS, Q2 2020 earnings at $0.54 EPS and FY2020 earnings at $2.20 EPS.
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Other equities analysts have also issued reports about the stock. TD Securities decreased their target price on shares of Newmont Goldcorp from $52.00 to $50.00 and set an action list buy rating on the stock in a report on Monday, August 19th. Berenberg Bank restated a neutral rating and issued a $50.00 price objective on shares of Newmont Goldcorp in a report on Saturday, November 2nd. TheStreet lowered shares of Newmont Goldcorp from a b- rating to a c+ rating in a report on Tuesday, October 1st. Warburg Research restated a neutral rating and issued a $48.33 price objective on shares of Newmont Goldcorp in a report on Saturday, November 2nd. Finally, B. Riley decreased their price objective on shares of Newmont Goldcorp from $43.90 to $41.30 and set a neutral rating on the stock in a report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $45.96.
NYSE:NEM traded down $0.32 on Wednesday, hitting $36.61. The stock had a trading volume of 8,408,080 shares, compared to its average volume of 9,493,327. The company has a quick ratio of 1.38, a current ratio of 2.18 and a debt-to-equity ratio of 0.30. The stock has a market cap of $30.79 billion, a price-to-earnings ratio of 27.12 and a beta of -0.05. The company has a fifty day moving average price of $38.57 and a two-hundred day moving average price of $36.82. Newmont Goldcorp has a 1-year low of $29.77 and a 1-year high of $41.23.
Newmont Goldcorp (NYSE:NEM) last posted its earnings results on Tuesday, November 5th. The basic materials company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.83 billion. Newmont Goldcorp had a net margin of 25.42% and a return on equity of 4.71%. The business’s revenue for the quarter was up 57.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.33 earnings per share. As a group, analysts anticipate that Newmont Goldcorp will post 1.32 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.53%. The ex-dividend date is Wednesday, December 4th. Newmont Goldcorp’s payout ratio is currently 41.48%.
In other Newmont Goldcorp news, CAO John Kitlen sold 750 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $39.32, for a total value of $29,490.00. Following the sale, the chief accounting officer now directly owns 41,923 shares of the company’s stock, valued at approximately $1,648,412.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP E Randall Engel sold 3,500 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $38.65, for a total transaction of $135,275.00. Following the completion of the sale, the executive vice president now directly owns 308,719 shares in the company, valued at $11,931,989.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,805 shares of company stock worth $1,811,632. 0.44% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the business. Advantage Investment Management LLC grew its position in shares of Newmont Goldcorp by 556.0% in the 2nd quarter. Advantage Investment Management LLC now owns 656 shares of the basic materials company’s stock valued at $25,000 after buying an additional 556 shares during the last quarter. Sterling Investment Advisors Ltd. acquired a new stake in Newmont Goldcorp during the 2nd quarter worth $25,000. Valley National Advisers Inc. boosted its stake in Newmont Goldcorp by 1,212.0% during the 2nd quarter. Valley National Advisers Inc. now owns 656 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 606 shares during the period. Reilly Financial Advisors LLC acquired a new stake in Newmont Goldcorp during the 3rd quarter worth $26,000. Finally, Edge Wealth Management LLC acquired a new stake in Newmont Goldcorp during the 2nd quarter worth $27,000. 80.05% of the stock is currently 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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