Cullen Frost Bankers Inc. Decreases Stock Holdings in Newmont Goldcorp Corp (NYSE:NEM)

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Cullen Frost Bankers Inc. trimmed its holdings in shares of Newmont Goldcorp Corp (NYSE:NEM) by 6.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,126 shares of the basic materials company’s stock after selling 423 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Newmont Goldcorp were worth $232,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of NEM. Vanguard Group Inc. increased its position in shares of Newmont Goldcorp by 52.2% during the second quarter. Vanguard Group Inc. now owns 89,715,566 shares of the basic materials company’s stock valued at $3,451,358,000 after acquiring an additional 30,786,889 shares during the last quarter. BlackRock Inc. increased its position in shares of Newmont Goldcorp by 27.8% during the second quarter. BlackRock Inc. now owns 109,649,438 shares of the basic materials company’s stock valued at $4,218,213,000 after acquiring an additional 23,820,369 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Newmont Goldcorp by 33.0% during the second quarter. Van ECK Associates Corp now owns 37,040,057 shares of the basic materials company’s stock valued at $1,424,931,000 after acquiring an additional 9,198,168 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of Newmont Goldcorp by 63,100.2% during the second quarter. Nuveen Asset Management LLC now owns 8,032,118 shares of the basic materials company’s stock valued at $308,996,000 after acquiring an additional 8,019,409 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Newmont Goldcorp by 32.7% during the second quarter. Bank of New York Mellon Corp now owns 13,512,764 shares of the basic materials company’s stock valued at $519,836,000 after acquiring an additional 3,328,151 shares during the last quarter. 80.05% of the stock is owned by institutional investors.

A number of brokerages recently commented on NEM. Royal Bank of Canada raised Newmont Goldcorp from an “underperform” rating to a “sector perform” rating and set a $45.00 price target for the company in a research report on Monday, September 9th. Deutsche Bank reaffirmed a “buy” rating and set a $63.30 price target on shares of Newmont Goldcorp in a research report on Tuesday, October 22nd. TD Securities decreased their price target on Newmont Goldcorp from $52.00 to $50.00 and set an “action list buy” rating for the company in a research report on Monday, August 19th. Macquarie began coverage on Newmont Goldcorp in a research report on Thursday, September 12th. They set a “neutral” rating for the company. Finally, B. Riley decreased their price target on Newmont Goldcorp from $43.90 to $41.30 and set a “neutral” rating for the company in a research report on Monday, October 21st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $45.96.

In other news, CEO Thomas Ronald Palmer sold 4,000 shares of Newmont Goldcorp stock in a transaction on Friday, November 1st. The stock was sold at an average price of $39.68, for a total value of $158,720.00. Following the completion of the transaction, the chief executive officer now directly owns 246,073 shares in the company, valued at $9,764,176.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP E Randall Engel sold 3,500 shares of Newmont Goldcorp stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $38.82, for a total value of $135,870.00. Following the completion of the transaction, the executive vice president now owns 301,719 shares of the company’s stock, valued at $11,712,731.58. The disclosure for this sale can be found here. Insiders sold 45,805 shares of company stock valued at $1,811,632 over the last three months. Company insiders own 0.44% of the company’s stock.

NYSE:NEM opened at $36.61 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.18 and a quick ratio of 1.38. The business has a fifty day simple moving average of $38.57 and a two-hundred day simple moving average of $36.82. Newmont Goldcorp Corp has a 1 year low of $29.77 and a 1 year high of $41.23. The company has a market capitalization of $30.79 billion, a P/E ratio of 27.12 and a beta of -0.05.

Newmont Goldcorp (NYSE:NEM) last released its earnings results on Tuesday, November 5th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ 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 analysts’ expectations of $2.83 billion. During the same period in the prior year, the business earned $0.33 earnings per share. The business’s quarterly revenue was up 57.2% compared to the same quarter last year. As a group, analysts anticipate that Newmont Goldcorp Corp will post 1.32 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Wednesday, December 4th. Newmont Goldcorp’s dividend payout ratio is currently 41.48%.

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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Institutional Ownership by Quarter for Newmont Goldcorp (NYSE:NEM)

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