Brokerages Set Newmont Goldcorp Corp (NYSE:NEM) PT at $72.69

Newmont Goldcorp Corp (NYSE:NEM) has received a consensus recommendation of “Buy” from the nineteen research firms that are currently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $72.69.

Several research firms recently issued reports on NEM. Citigroup decreased their target price on shares of Newmont Goldcorp from $74.00 to $70.00 in a research note on Monday, June 29th. Raymond James upped their price objective on shares of Newmont Goldcorp from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, September 24th. Fundamental Research raised their target price on Newmont Goldcorp from $74.64 to $75.59 and gave the company a “buy” rating in a research report on Thursday, August 13th. UBS Group upped their price target on Newmont Goldcorp from $58.00 to $71.00 and gave the stock a “neutral” rating in a report on Monday, August 24th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $72.00 price objective on shares of Newmont Goldcorp in a report on Wednesday, July 29th.

Shares of NEM stock opened at $62.67 on Thursday. Newmont Goldcorp has a 52-week low of $33.00 and a 52-week high of $72.22. The company has a quick ratio of 2.41, a current ratio of 2.81 and a debt-to-equity ratio of 0.26. The stock has a market cap of $50.33 billion, a PE ratio of 13.08 and a beta of 0.36. The business has a 50-day simple moving average of $64.30 and a 200-day simple moving average of $61.71.

Newmont Goldcorp (NYSE:NEM) last announced its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). Newmont Goldcorp had a net margin of 36.79% and a return on equity of 5.70%. The company had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Sell-side analysts anticipate that Newmont Goldcorp will post 2.49 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Thursday, September 10th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, September 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.60%. Newmont Goldcorp’s payout ratio is presently 75.76%.

In related news, EVP Stephen P. Gottesfeld sold 12,000 shares of Newmont Goldcorp stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $69.00, for a total transaction of $828,000.00. Following the transaction, the executive vice president now owns 138,944 shares in the company, valued at $9,587,136. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Thomas Ronald Palmer sold 5,150 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $69.20, for a total value of $356,380.00. Following the transaction, the chief executive officer now directly owns 268,297 shares in the company, valued at approximately $18,566,152.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,291 shares of company stock valued at $3,543,295. 0.28% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in NEM. Recurrent Investment Advisors LLC acquired a new stake in Newmont Goldcorp in the 2nd quarter valued at approximately $710,000. Empirical Finance LLC purchased a new stake in shares of Newmont Goldcorp in the 2nd quarter valued at $297,000. The Manufacturers Life Insurance Company lifted its stake in Newmont Goldcorp by 13.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,264,026 shares of the basic materials company’s stock worth $57,235,000 after acquiring an additional 149,717 shares in the last quarter. 1832 Asset Management L.P. boosted its holdings in Newmont Goldcorp by 2,697.0% during the 1st quarter. 1832 Asset Management L.P. now owns 51,745 shares of the basic materials company’s stock valued at $2,414,000 after acquiring an additional 49,895 shares during the period. Finally, AXA boosted its holdings in Newmont Goldcorp by 10.1% during the 1st quarter. AXA now owns 584,393 shares of the basic materials company’s stock valued at $26,461,000 after acquiring an additional 53,622 shares during the period. 79.46% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Newmont Goldcorp (NYSE:NEM)

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