Gateway Investment Advisers LLC Grows Position in Newmont Goldcorp Corp (NYSE:NEM)

Gateway Investment Advisers LLC increased its position in shares of Newmont Goldcorp Corp (NYSE:NEM) by 15.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 91,469 shares of the basic materials company’s stock after purchasing an additional 11,930 shares during the period. Gateway Investment Advisers LLC’s holdings in Newmont Goldcorp were worth $3,519,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Edge Wealth Management LLC bought a new stake in Newmont Goldcorp during the 2nd quarter valued at about $27,000. Rehmann Capital Advisory Group lifted its holdings in Newmont Goldcorp by 350.2% during the 1st quarter. Rehmann Capital Advisory Group now owns 968 shares of the basic materials company’s stock valued at $35,000 after buying an additional 753 shares in the last quarter. Legacy Bridge LLC bought a new stake in Newmont Goldcorp during the 1st quarter valued at about $36,000. Ellis Investment Partners LLC bought a new stake in Newmont Goldcorp during the 1st quarter valued at about $39,000. Finally, Zions Bancorporation N.A. bought a new stake in Newmont Goldcorp during the 1st quarter valued at about $39,000. 61.34% of the stock is owned by hedge funds and other institutional investors.

NYSE:NEM opened at $37.73 on Wednesday. Newmont Goldcorp Corp has a one year low of $29.06 and a one year high of $40.33. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.38 and a current ratio of 1.83. The company has a market cap of $30.57 billion, a price-to-earnings ratio of 27.95 and a beta of 0.04. The firm has a 50-day simple moving average of $37.98.

Newmont Goldcorp (NYSE:NEM) last posted its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.11). Newmont Goldcorp had a negative net margin of 1.03% and a positive return on equity of 4.79%. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the prior year, the firm posted $0.26 EPS. The company’s revenue for the quarter was up 35.8% compared to the same quarter last year. Sell-side analysts expect that Newmont Goldcorp Corp will post 1.32 EPS for the current fiscal year.

The firm also recently declared 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 of this dividend is Wednesday, September 11th. This represents a $0.56 annualized dividend and a dividend yield of 1.48%. Newmont Goldcorp’s dividend payout ratio is currently 41.48%.

In other news, CFO Nancy Buese sold 7,500 shares of Newmont Goldcorp stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $31.63, for a total value of $237,225.00. Following the transaction, the chief financial officer now owns 53,118 shares of the company’s stock, valued at approximately $1,680,122.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP William N. Macgowan sold 3,000 shares of Newmont Goldcorp 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 completion of the transaction, the executive vice president now directly owns 206,351 shares in the company, valued at approximately $7,764,988.13. The disclosure for this sale can be found here. In the last 90 days, insiders sold 62,970 shares of company stock valued at $2,286,295. Company insiders own 0.44% of the company’s stock.

A number of equities research analysts recently weighed in on the stock. Barclays set a $192.00 price objective on shares of Tesla and gave the company a “sell” rating in a report on Tuesday, April 9th. Desjardins reiterated a “buy” rating and set a $43.00 price objective on shares of Newmont Goldcorp in a report on Thursday, April 4th. Royal Bank of Canada decreased their price objective on shares of Newmont Goldcorp to $39.00 and set an “underperform” rating for the company in a report on Monday, April 8th. Zacks Investment Research lowered shares of Hess Midstream Partners from a “hold” rating to a “sell” rating in a report on Tuesday, May 14th. Finally, Raymond James set a $33.00 price objective on shares of LKQ and gave the company a “buy” rating in a report on Friday, April 26th. One equities 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 given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $41.56.

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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Institutional Ownership by Quarter for Newmont Goldcorp (NYSE:NEM)

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