FARMERS & MERCHANTS TRUST Co OF LONG BEACH trimmed its position in Newmont Goldcorp Corp (NYSE:NEM) by 27.7% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,968 shares of the basic materials company’s stock after selling 14,898 shares during the period. Newmont Goldcorp accounts for about 1.1% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s investment portfolio, making the stock its 25th biggest holding. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Newmont Goldcorp were worth $2,406,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Harwood Advisory Group LLC acquired a new stake in Newmont Goldcorp in the first quarter worth $25,000. Tarbox Family Office Inc. lifted its position in Newmont Goldcorp by 73.8% in the 1st quarter. Tarbox Family Office Inc. now owns 570 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 242 shares during the last quarter. Lenox Wealth Management Inc. boosted its stake in Newmont Goldcorp by 608.2% during the 1st quarter. Lenox Wealth Management Inc. now owns 602 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 517 shares during the period. Allworth Financial LP grew its position in Newmont Goldcorp by 3,200.0% in the 1st quarter. Allworth Financial LP now owns 825 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 800 shares during the last quarter. Finally, Verus Capital Partners LLC bought a new position in Newmont Goldcorp in the 4th quarter worth about $43,000. 81.29% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Stephen P. Gottesfeld sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $69.00, for a total transaction of $828,000.00. Following the transaction, the executive vice president now directly owns 138,944 shares of the company’s stock, valued at $9,587,136. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP E Randall Engel sold 67,982 shares of the company’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 in the company, valued at approximately $22,396,626.59. The disclosure for this sale can be found here. Insiders have sold 127,745 shares of company stock worth $8,155,009 in the last quarter. 0.28% of the stock is currently owned by corporate insiders.
Newmont Goldcorp (NYSE:NEM) last posted its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Newmont Goldcorp had a return on equity of 5.70% and a net margin of 36.79%. The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.37 billion. As a group, equities analysts expect that Newmont Goldcorp Corp will post 2.52 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.45%. Newmont Goldcorp’s dividend payout ratio (DPR) is presently 75.76%.
Several brokerages have recently issued reports on NEM. TD Securities boosted their price objective on Newmont Goldcorp from $81.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Raymond James boosted their price target on Newmont Goldcorp from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday. Deutsche Bank raised their price target on Newmont Goldcorp from $70.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. Credit Suisse Group restated a “buy” rating and set a $72.00 price objective on shares of Newmont Goldcorp in a research note on Wednesday. Finally, Standpoint Research lowered shares of Newmont Goldcorp from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $71.08.
Newmont Goldcorp 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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