Twin Capital Management Inc. trimmed its position in Newmont Goldcorp Corp (NYSE:NEM) by 31.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 150,941 shares of the basic materials company’s stock after selling 69,439 shares during the quarter. Twin Capital Management Inc.’s holdings in Newmont Goldcorp were worth $5,807,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Newmont Goldcorp by 8.4% in the 1st quarter. BlackRock Inc. now owns 85,829,069 shares of the basic materials company’s stock valued at $3,070,105,000 after purchasing an additional 6,653,939 shares during the period. Flossbach Von Storch AG raised its holdings in Newmont Goldcorp by 7.8% in the 1st quarter. Flossbach Von Storch AG now owns 15,289,352 shares of the basic materials company’s stock valued at $546,900,000 after acquiring an additional 1,107,490 shares during the period. First Eagle Investment Management LLC raised its holdings in Newmont Goldcorp by 2.6% in the 1st quarter. First Eagle Investment Management LLC now owns 12,020,757 shares of the basic materials company’s stock valued at $429,982,000 after acquiring an additional 299,684 shares during the period. Northern Trust Corp raised its holdings in Newmont Goldcorp by 7.0% in the 1st quarter. Northern Trust Corp now owns 8,581,758 shares of the basic materials company’s stock valued at $306,969,000 after acquiring an additional 564,587 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Newmont Goldcorp by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 8,229,613 shares of the basic materials company’s stock valued at $284,738,000 after acquiring an additional 60,289 shares during the period. 62.78% of the stock is currently owned by institutional investors.
Shares of NYSE NEM traded up $0.37 during trading hours on Thursday, hitting $38.34. 278,986 shares of the stock were exchanged, compared to its average volume of 8,534,074. The company has a current ratio of 1.83, a quick ratio of 1.38 and a debt-to-equity ratio of 0.30. The firm has a market cap of $31.53 billion, a P/E ratio of 28.38 and a beta of 0.03. The firm has a fifty day moving average of $38.42. Newmont Goldcorp Corp has a 1-year low of $29.06 and a 1-year high of $40.33.
Newmont Goldcorp (NYSE:NEM) last posted its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.11). The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.29 billion. Newmont Goldcorp had a positive return on equity of 4.79% and a negative net margin of 1.03%. The business’s revenue was up 35.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.26 EPS. Equities analysts anticipate that Newmont Goldcorp Corp will post 1.2 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $0.56 annualized dividend and a dividend yield of 1.46%. Newmont Goldcorp’s dividend payout ratio is 41.48%.
A number of research analysts have issued reports on the stock. Citigroup upgraded shares of Newmont Goldcorp from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Thursday, May 23rd. Zacks Investment Research lowered shares of Newmont Goldcorp from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. BMO Capital Markets assumed coverage on shares of Newmont Goldcorp in a research report on Wednesday, July 3rd. They set a “market perform” rating and a $45.00 target price on the stock. Deutsche Bank set a $41.00 target price on shares of Newmont Goldcorp and gave the stock a “hold” rating in a research report on Thursday, July 11th. Finally, Barclays restated a “buy” rating and set a $44.00 target price on shares of Newmont Goldcorp in a research report on Sunday, August 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given 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 a consensus price target of $41.76.
In related news, CEO Gary J. Goldberg sold 4,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $33.31, for a total transaction of $133,240.00. Following the sale, the chief executive officer now owns 129,680 shares in the company, valued at approximately $4,319,640.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William N. Macgowan sold 3,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $37.63, for a total transaction of $112,890.00. Following the sale, the executive vice president now owns 206,351 shares in the company, valued at approximately $7,764,988.13. The disclosure for this sale can be found here. Insiders have sold a total of 89,720 shares of company stock worth $3,254,208 in the last quarter. 0.44% of the stock is currently owned by company insiders.
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.
Further Reading: Cost of Goods Sold (COGS)
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