Newmont Goldcorp (NEM) Stock Rating Upgraded by Citigroup

Citigroup upgraded shares of Newmont Goldcorp (NYSE:NEM) from a neutral rating to a buy rating in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. The firm currently has $40.00 price target on the basic materials company’s stock.

Several other analysts have also issued reports on NEM. Zacks Investment Research lowered Newmont Goldcorp from a buy rating to a hold rating in a report on Tuesday, May 14th. Deutsche Bank reiterated a hold rating and set a $36.00 price objective (up from $35.00) on shares of Newmont Goldcorp in a report on Wednesday, April 10th. TheStreet upgraded Newmont Goldcorp from a c rating to a b- rating in a report on Thursday, February 21st. Barclays increased their price objective on Newmont Goldcorp from $39.00 to $41.00 and gave the stock an overweight rating in a report on Tuesday, April 9th. Finally, Raymond James reiterated an outperform rating and set a $48.00 price objective on shares of Newmont Goldcorp in a report on Friday, February 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. Newmont Goldcorp presently has a consensus rating of Buy and an average price target of $41.23.

NEM opened at $31.92 on Thursday. The firm has a market capitalization of $26.16 billion, a PE ratio of 23.64 and a beta of -0.04. Newmont Goldcorp has a 12-month low of $29.06 and a 12-month high of $40.03. The company has a quick ratio of 2.62, a current ratio of 2.97 and a debt-to-equity ratio of 0.32.

Newmont Goldcorp (NYSE:NEM) last released its earnings results on Thursday, April 25th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.07. The company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.81 billion. Newmont Goldcorp had a return on equity of 6.13% and a net margin of 3.26%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 earnings per share. Sell-side analysts anticipate that Newmont Goldcorp will post 1.38 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Wednesday, June 5th. Newmont Goldcorp’s payout ratio is 41.48%.

In other Newmont Goldcorp news, EVP Elaine J. Dorward-King sold 3,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $30.90, for a total transaction of $92,700.00. Following the transaction, the executive vice president now directly owns 142,122 shares of the company’s stock, valued at $4,391,569.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas Ronald Palmer sold 1,250 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $35.85, for a total transaction of $44,812.50. Following the transaction, the insider now directly owns 276,573 shares in the company, valued at $9,915,142.05. The disclosure for this sale can be found here. Insiders have sold 23,250 shares of company stock worth $787,133 over the last three months. Company insiders own 0.44% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Assetmark Inc. acquired a new stake in shares of Newmont Goldcorp in the first quarter valued at about $25,000. Archford Capital Strategies LLC grew its position in shares of Newmont Goldcorp by 66.7% in the fourth quarter. Archford Capital Strategies LLC now owns 750 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 300 shares during the last quarter. First Mercantile Trust Co. grew its position in shares of Newmont Goldcorp by 70.2% in the fourth quarter. First Mercantile Trust Co. now owns 800 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 330 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Newmont Goldcorp by 377.3% in the fourth quarter. Bessemer Group Inc. now owns 840 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 664 shares during the last quarter. Finally, Berman Capital Advisors LLC acquired a new stake in shares of Newmont Goldcorp in the fourth quarter valued at about $30,000. 87.57% of the stock is currently owned by hedge funds and other 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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Analyst Recommendations for Newmont Goldcorp (NYSE:NEM)

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