Mutual of America Capital Management LLC Buys 134,131 Shares of Newmont Goldcorp Corp (NYSE:NEM)

Mutual of America Capital Management LLC grew its stake in Newmont Goldcorp Corp (NYSE:NEM) by 99.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 268,829 shares of the basic materials company’s stock after acquiring an additional 134,131 shares during the period. Mutual of America Capital Management LLC’s holdings in Newmont Goldcorp were worth $12,173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of NEM. Norges Bank bought a new position in shares of Newmont Goldcorp in the fourth quarter valued at about $378,296,000. FMR LLC increased its position in Newmont Goldcorp by 43.2% during the fourth quarter. FMR LLC now owns 16,488,081 shares of the basic materials company’s stock worth $716,407,000 after acquiring an additional 4,973,929 shares during the period. First Trust Advisors LP increased its position in Newmont Goldcorp by 24,317.1% during the first quarter. First Trust Advisors LP now owns 2,324,994 shares of the basic materials company’s stock worth $105,276,000 after acquiring an additional 2,315,472 shares during the period. Renaissance Technologies LLC increased its position in Newmont Goldcorp by 27.1% during the fourth quarter. Renaissance Technologies LLC now owns 9,234,499 shares of the basic materials company’s stock worth $401,242,000 after acquiring an additional 1,966,320 shares during the period. Finally, Van ECK Associates Corp increased its position in Newmont Goldcorp by 4.7% during the fourth quarter. Van ECK Associates Corp now owns 39,275,253 shares of the basic materials company’s stock worth $1,706,510,000 after acquiring an additional 1,764,699 shares during the period. 81.48% of the stock is currently owned by institutional investors.

NEM has been the topic of a number of recent research reports. Citigroup raised their price target on shares of Newmont Goldcorp from $46.00 to $70.00 in a research report on Wednesday, May 6th. Raymond James set a $73.00 price target on shares of Newmont Goldcorp and gave the stock an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. raised their price target on shares of Newmont Goldcorp from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Standpoint Research downgraded shares of Newmont Goldcorp from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Finally, BMO Capital Markets reduced their price objective on shares of Newmont Goldcorp from $60.00 to $59.00 and set an “outperform” rating on the stock in a research note on Thursday, April 2nd. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $69.08.

In other news, CEO Thomas Ronald Palmer sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $45.04, for a total value of $180,160.00. Following the sale, the chief executive officer now directly owns 286,597 shares in the company, valued at approximately $12,908,328.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP E Randall Engel sold 67,982 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $65.33, for a total transaction of $4,441,264.06. Following the completion of the transaction, the executive vice president now owns 342,823 shares of the company’s stock, valued at approximately $22,396,626.59. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 108,383 shares of company stock worth $6,492,212. 0.28% of the stock is currently owned by corporate insiders.

Shares of NEM traded down $0.43 during mid-day trading on Friday, reaching $63.05. The company had a trading volume of 4,491,024 shares, compared to its average volume of 6,996,463. The company’s 50 day simple moving average is $59.99 and its 200 day simple moving average is $47.06. Newmont Goldcorp Corp has a 1-year low of $31.10 and a 1-year high of $69.13. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.81 and a current ratio of 3.31. The company has a market capitalization of $50.95 billion, a price-to-earnings ratio of 14.56 and a beta of 0.40.

Newmont Goldcorp (NYSE:NEM) last posted its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.02). Newmont Goldcorp had a net margin of 33.66% and a return on equity of 5.10%. The company had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the previous year, the business posted $0.33 earnings per share. The company’s revenue for the quarter was up 43.2% on a year-over-year basis. As a group, equities analysts forecast that Newmont Goldcorp Corp will post 2.47 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th will be paid a $0.25 dividend. This is an increase from Newmont Goldcorp’s previous quarterly dividend of $0.14. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Wednesday, June 3rd. Newmont Goldcorp’s dividend payout ratio (DPR) is presently 42.42%.

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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