Artemis Investment Management LLP lowered its stake in shares of Newmont Goldcorp Corp (NYSE:NEM) by 25.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 347,822 shares of the basic materials company’s stock after selling 117,050 shares during the period. Artemis Investment Management LLP’s holdings in Newmont Goldcorp were worth $15,102,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in NEM. Reitz Capital Advisors LLC increased its holdings in shares of Newmont Goldcorp by 6.8% during the 3rd quarter. Reitz Capital Advisors LLC now owns 13,745 shares of the basic materials company’s stock worth $521,000 after acquiring an additional 870 shares during the last quarter. Compagnie Lombard Odier SCmA increased its holdings in shares of Newmont Goldcorp by 7.8% during the 2nd quarter. Compagnie Lombard Odier SCmA now owns 107,140 shares of the basic materials company’s stock worth $4,122,000 after acquiring an additional 7,769 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Newmont Goldcorp by 2.9% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 112,775 shares of the basic materials company’s stock worth $4,277,000 after acquiring an additional 3,180 shares during the last quarter. Boston Partners increased its holdings in shares of Newmont Goldcorp by 1,167.1% during the 3rd quarter. Boston Partners now owns 1,000,711 shares of the basic materials company’s stock worth $37,947,000 after acquiring an additional 921,736 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Newmont Goldcorp by 13.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 11,868,501 shares of the basic materials company’s stock worth $456,581,000 after acquiring an additional 1,380,005 shares during the last quarter. Institutional investors own 81.12% of the company’s stock.
A number of research analysts recently weighed in on NEM shares. TheStreet raised Newmont Goldcorp from a “c+” rating to a “b” rating in a report on Tuesday, November 5th. BMO Capital Markets decreased their target price on Newmont Goldcorp from $50.00 to $47.00 and set an “outperform” rating on the stock in a report on Tuesday, December 3rd. They noted that the move was a valuation call. ValuEngine raised Newmont Goldcorp from a “sell” rating to a “hold” rating in a report on Wednesday, December 4th. Raymond James set a $48.00 target price on Newmont Goldcorp and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Finally, Barclays set a $45.00 price objective on Newmont Goldcorp and gave the company a “buy” rating in a report on Tuesday, October 15th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Newmont Goldcorp has an average rating of “Buy” and an average target price of $43.92.
Shares of NYSE NEM opened at $42.83 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.18 and a quick ratio of 1.76. The stock’s fifty day moving average price is $41.20 and its two-hundred day moving average price is $39.24. Newmont Goldcorp Corp has a one year low of $29.77 and a one year high of $44.08. The firm has a market cap of $34.80 billion, a price-to-earnings ratio of 31.73 and a beta of -0.02.
Newmont Goldcorp (NYSE:NEM) last issued its quarterly earnings data on Tuesday, November 5th. The basic materials company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). Newmont Goldcorp had a net margin of 25.42% and a return on equity of 4.71%. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.83 billion. During the same period in the prior year, the company earned $0.33 earnings per share. The business’s quarterly revenue was up 57.2% compared to the same quarter last year. On average, equities analysts anticipate that Newmont Goldcorp Corp will post 1.31 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date was Wednesday, December 4th. Newmont Goldcorp’s dividend payout ratio is 41.48%.
Newmont Goldcorp announced that its board has initiated a stock repurchase program on Monday, December 2nd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the basic materials company to repurchase up to 3.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.
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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