Mitsubishi UFJ Kokusai Asset Management Co. Ltd. trimmed its position in Newmont Goldcorp Corp (NYSE:NEM) by 8.9% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 195,253 shares of the basic materials company’s stock after selling 19,174 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Newmont Goldcorp were worth $8,841,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Harwood Advisory Group LLC purchased a new position in shares of Newmont Goldcorp during the first quarter valued at $25,000. Tarbox Family Office Inc. grew its holdings in Newmont Goldcorp by 73.8% during the 1st quarter. Tarbox Family Office Inc. now owns 570 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 242 shares in the last quarter. Lenox Wealth Management Inc. increased its position 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. Acima Private Wealth LLC bought a new stake in shares of Newmont Goldcorp in the 4th quarter valued at about $35,000. Finally, Citizens Financial Group Inc RI lifted its position in shares of Newmont Goldcorp by 264.1% in the 4th quarter. Citizens Financial Group Inc RI now owns 812 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 589 shares during the period. 81.48% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts recently commented on NEM shares. Royal Bank of Canada reissued a “hold” rating and issued a $48.00 price objective on shares of Newmont Goldcorp in a research note on Thursday, April 30th. ValuEngine raised Newmont Goldcorp from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Deutsche Bank upped their price objective on Newmont Goldcorp from $54.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Barclays lowered Newmont Goldcorp from an “overweight” rating to an “equal weight” rating and set a $58.00 target price on the stock. in a research note on Thursday, April 16th. Finally, Bank of America reiterated a “buy” rating and issued a $82.00 target price (up from $73.00) on shares of Newmont Goldcorp in a report on Wednesday, May 6th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $69.08.
Newmont Goldcorp (NYSE:NEM) last released its earnings results on Tuesday, May 5th. The basic materials company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.02). Newmont Goldcorp had a return on equity of 5.10% and a net margin of 33.66%. The company had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the business earned $0.33 earnings per share. The firm’s revenue for the quarter was up 43.2% on a year-over-year basis. On average, equities analysts expect that Newmont Goldcorp Corp will post 2.47 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th will be paid a dividend of $0.25 per share. This is an increase from Newmont Goldcorp’s previous quarterly dividend of $0.14. This represents a $1.00 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Wednesday, June 3rd. Newmont Goldcorp’s payout ratio is presently 42.42%.
In related news, EVP E Randall Engel sold 67,982 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $65.33, for a total value of $4,441,264.06. Following the sale, the executive vice president now owns 342,823 shares in the company, valued at $22,396,626.59. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO John Kitlen sold 1,500 shares of the stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $48.43, for a total transaction of $72,645.00. Following the completion of the transaction, the chief accounting officer now owns 41,734 shares in the company, valued at approximately $2,021,177.62. The disclosure for this sale can be found here. Insiders have sold 108,383 shares of company stock worth $6,492,212 over the last three months. Corporate insiders own 0.28% 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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