Newmont Goldcorp (NYSE:NEM) Price Target Raised to $46.00

Share on StockTwits

Newmont Goldcorp (NYSE:NEM) had its price target upped by Citigroup from $44.00 to $46.00 in a research report report published on Wednesday, BenzingaRatingsTable reports. They currently have a buy rating on the basic materials company’s stock.

Other analysts also recently issued reports about the stock. Royal Bank of Canada upgraded shares of Newmont Goldcorp from an underperform rating to a sector perform rating and set a $45.00 price target on the stock in a report on Monday, September 9th. Zacks Investment Research downgraded shares of Newmont Goldcorp from a buy rating to a hold rating in a report on Tuesday, May 14th. Barclays reiterated a buy rating and issued a $44.00 price target on shares of Newmont Goldcorp in a report on Sunday, August 4th. B. Riley lifted their price target on shares of Newmont Goldcorp from $35.10 to $45.40 and gave the company a neutral rating in a report on Monday, September 9th. Finally, TD Securities reduced their price target 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. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Newmont Goldcorp has an average rating of Buy and a consensus price target of $43.56.

NEM opened at $38.62 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.38 and a current ratio of 1.83. Newmont Goldcorp has a fifty-two week low of $29.06 and a fifty-two week high of $41.23. The firm’s fifty day moving average is $38.67 and its 200 day moving average is $35.74. The stock has a market cap of $31.75 billion, a price-to-earnings ratio of 28.61 and a beta of -0.03.

Newmont Goldcorp (NYSE:NEM) last announced its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.11). The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.29 billion. Newmont Goldcorp had a negative net margin of 1.03% and a positive return on equity of 4.79%. The business’s revenue was up 35.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.26 earnings per share. On average, equities research analysts predict that Newmont Goldcorp will post 1.47 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be issued a $0.14 dividend. The ex-dividend date is Wednesday, September 11th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.45%. Newmont Goldcorp’s dividend payout ratio (DPR) is presently 41.48%.

In other news, EVP Stephen P. Gottesfeld sold 3,500 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $38.48, for a total value of $134,680.00. Following the sale, the executive vice president now directly owns 187,404 shares in the company, valued at approximately $7,211,305.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Thomas Ronald Palmer sold 16,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $35.89, for a total transaction of $574,240.00. Following the completion of the sale, the president now owns 256,823 shares in the company, valued at $9,217,377.47. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,415 shares of company stock worth $3,548,425. Insiders own 0.44% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Gables Capital Management Inc. increased its holdings in shares of Newmont Goldcorp by 11.9% in the 2nd quarter. Gables Capital Management Inc. now owns 6,156 shares of the basic materials company’s stock worth $237,000 after buying an additional 656 shares during the last quarter. Winslow Evans & Crocker Inc. boosted its stake in shares of Newmont Goldcorp by 19.8% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 13,906 shares of the basic materials company’s stock worth $536,000 after purchasing an additional 2,296 shares during the period. Norinchukin Bank The boosted its stake in shares of Newmont Goldcorp by 14.3% during the 2nd quarter. Norinchukin Bank The now owns 115,547 shares of the basic materials company’s stock worth $4,445,000 after purchasing an additional 14,449 shares during the period. Barnett & Company Inc. boosted its stake in shares of Newmont Goldcorp by 42.8% during the 2nd quarter. Barnett & Company Inc. now owns 1,642 shares of the basic materials company’s stock worth $63,000 after purchasing an additional 492 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its stake in shares of Newmont Goldcorp by 7.0% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 374,192 shares of the basic materials company’s stock worth $14,396,000 after purchasing an additional 24,332 shares during the period. Hedge funds and other institutional investors own 80.40% of the company’s stock.

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.

Featured Article: The Role of a Fiduciary and Individual Investors

Analyst Recommendations for Newmont Goldcorp (NYSE:NEM)

Receive News & Ratings for Newmont Goldcorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmont Goldcorp and related companies with MarketBeat.com's FREE daily email newsletter.