Insider Selling: Newmont Goldcorp Corp (NYSE:NEM) CAO Sells 1,500 Shares of Stock

Newmont Goldcorp Corp (NYSE:NEM) CAO John Kitlen sold 1,500 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $43.78, for a total transaction of $65,670.00. Following the sale, the chief accounting officer now directly owns 38,173 shares in the company, valued at $1,671,213.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

John Kitlen also recently made the following trade(s):

  • On Monday, December 9th, John Kitlen sold 750 shares of Newmont Goldcorp stock. The shares were sold at an average price of $40.15, for a total transaction of $30,112.50.
  • On Monday, November 11th, John Kitlen sold 750 shares of Newmont Goldcorp stock. The shares were sold at an average price of $36.51, for a total transaction of $27,382.50.

NEM traded down $0.06 during mid-day trading on Thursday, hitting $43.44. The stock had a trading volume of 127,696 shares, compared to its average volume of 6,523,295. The stock’s fifty day simple moving average is $41.31 and its 200-day simple moving average is $39.27. 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 firm has a market capitalization of $35.11 billion, a price-to-earnings ratio of 32.23 and a beta of -0.02. Newmont Goldcorp Corp has a 1-year low of $29.77 and a 1-year high of $44.08.

Newmont Goldcorp (NYSE:NEM) last posted its earnings results on Tuesday, November 5th. The basic materials company reported $0.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.03). Newmont Goldcorp had a return on equity of 4.71% and a net margin of 25.42%. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.83 billion. During the same quarter last year, the business posted $0.33 earnings per share. The company’s revenue for the quarter was up 57.2% on a year-over-year basis. As a group, research analysts expect that Newmont Goldcorp Corp will post 1.31 earnings per share for the current fiscal year.

Newmont Goldcorp announced that its Board of Directors has approved a share 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 purchase up to 3.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were issued a dividend of $0.14 per share. The ex-dividend date was Wednesday, December 4th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.29%. Newmont Goldcorp’s payout ratio is 41.48%.

NEM has been the topic of several research analyst reports. ValuEngine raised shares of Newmont Goldcorp from a “sell” rating to a “hold” rating in a research note on Wednesday, December 4th. Barclays set a $45.00 price objective on shares of Newmont Goldcorp and gave the company a “buy” rating in a research note on Tuesday, October 15th. TheStreet raised shares of Newmont Goldcorp from a “c+” rating to a “b” rating in a research note on Tuesday, November 5th. Royal Bank of Canada began coverage on shares of Newmont Goldcorp in a research note on Wednesday, December 4th. They issued a “hold” rating and a $45.00 price objective on the stock. Finally, Eight Capital began coverage on shares of Newmont Goldcorp in a research note on Monday, December 16th. They issued a “hold” rating on the stock. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Newmont Goldcorp has a consensus rating of “Buy” and an average target price of $44.36.

Several large investors have recently modified their holdings of NEM. Reilly Financial Advisors LLC acquired a new stake in shares of Newmont Goldcorp during the third quarter worth $26,000. North Star Investment Management Corp. bought a new position in Newmont Goldcorp in the third quarter valued at $31,000. Griffin Asset Management Inc. bought a new position in Newmont Goldcorp in the second quarter valued at $32,000. CSat Investment Advisory L.P. grew its position in Newmont Goldcorp by 88.7% in the second quarter. CSat Investment Advisory L.P. now owns 902 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 424 shares in the last quarter. Finally, Alpha Windward LLC bought a new position in Newmont Goldcorp in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 81.12% of the company’s stock.

About Newmont Goldcorp

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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