Stevens Capital Management LP lessened its holdings in shares of Newmont Goldcorp Corp (NYSE:NEM) by 68.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 94,569 shares of the basic materials company’s stock after selling 200,989 shares during the period. Stevens Capital Management LP’s holdings in Newmont Goldcorp were worth $3,638,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Advantage Investment Management LLC grew its stake in Newmont Goldcorp by 556.0% during the 2nd quarter. Advantage Investment Management LLC now owns 656 shares of the basic materials company’s stock worth $25,000 after buying an additional 556 shares during the last quarter. Edge Wealth Management LLC purchased a new position in Newmont Goldcorp during the 2nd quarter worth approximately $27,000. Rehmann Capital Advisory Group grew its stake in Newmont Goldcorp by 350.2% during the 1st quarter. Rehmann Capital Advisory Group now owns 968 shares of the basic materials company’s stock worth $35,000 after buying an additional 753 shares during the last quarter. Legacy Bridge LLC purchased a new position in Newmont Goldcorp during the 1st quarter worth approximately $36,000. Finally, Ellis Investment Partners LLC purchased a new position in Newmont Goldcorp during the 1st quarter worth approximately $39,000. 62.78% of the stock is currently owned by institutional investors and hedge funds.
NEM has been the topic of several analyst reports. TheStreet upgraded Newmont Goldcorp from a “c+” rating to a “b-” rating in a research note on Friday, July 5th. Raymond James reiterated an “outperform” rating and issued a $47.00 target price on shares of Newmont Goldcorp in a research note on Friday, April 26th. Deutsche Bank set a $41.00 target price on Newmont Goldcorp and gave the company a “hold” rating in a research note on Thursday, July 11th. TD Securities lifted their target price on Newmont Goldcorp from $46.00 to $47.00 and gave the company an “action list buy” rating in a research note on Tuesday, June 25th. Finally, Citigroup upgraded Newmont Goldcorp from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $41.76.
Shares of Newmont Goldcorp stock traded up $0.02 during trading on Thursday, reaching $37.99. The company’s stock had a trading volume of 80,963 shares, compared to its average volume of 8,534,074. The company has a quick ratio of 1.38, a current ratio of 1.83 and a debt-to-equity ratio of 0.30. Newmont Goldcorp Corp has a 12-month low of $29.06 and a 12-month high of $40.33. The firm has a market capitalization of $31.53 billion, a P/E ratio of 28.13 and a beta of 0.03. The business’s 50 day simple moving average is $38.42.
Newmont Goldcorp (NYSE:NEM) last posted its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.11). Newmont Goldcorp had a negative net margin of 1.03% and a positive return on equity of 4.79%. The business had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter last year, the firm earned $0.26 earnings per share. The firm’s quarterly revenue was up 35.8% compared to the same quarter last year. Analysts predict that Newmont Goldcorp Corp will post 1.2 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.47%. Newmont Goldcorp’s dividend payout ratio (DPR) is presently 41.48%.
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.
Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Goldcorp Corp (NYSE:NEM).
Receive News & Ratings for Newmont Goldcorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmont Goldcorp and related companies with MarketBeat.com's FREE daily email newsletter.