First Trust Advisors LP Trims Stake in Newmont Goldcorp Corp (NYSE:NEM)

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First Trust Advisors LP cut its stake in Newmont Goldcorp Corp (NYSE:NEM) by 91.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,388 shares of the basic materials company’s stock after selling 186,410 shares during the quarter. First Trust Advisors LP’s holdings in Newmont Goldcorp were worth $659,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in NEM. Vanguard Group Inc. boosted its position in Newmont Goldcorp by 52.2% in the 2nd quarter. Vanguard Group Inc. now owns 89,715,566 shares of the basic materials company’s stock worth $3,451,358,000 after purchasing an additional 30,786,889 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Newmont Goldcorp by 27.8% during the 2nd quarter. BlackRock Inc. now owns 109,649,438 shares of the basic materials company’s stock valued at $4,218,213,000 after purchasing an additional 23,820,369 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Newmont Goldcorp by 33.0% in the 2nd 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 purchasing an additional 9,198,168 shares during the period. Nuveen Asset Management LLC lifted its stake in shares of Newmont Goldcorp by 63,100.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 8,032,118 shares of the basic materials company’s stock valued at $308,996,000 after purchasing an additional 8,019,409 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Newmont Goldcorp by 32.7% in the 2nd 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 purchasing an additional 3,328,151 shares during the period. 81.06% of the stock is owned by institutional investors.

In other Newmont Goldcorp news, EVP Stephen P. Gottesfeld sold 3,500 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $38.48, for a total value of $134,680.00. Following the transaction, the executive vice president now owns 187,404 shares in the company, valued at approximately $7,211,305.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO John Kitlen sold 750 shares of Newmont Goldcorp stock in a transaction on Monday, September 9th. The stock was sold at an average price of $39.32, for a total transaction of $29,490.00. Following the sale, the chief accounting officer now directly owns 41,923 shares in the company, valued at approximately $1,648,412.36. The disclosure for this sale can be found here. Insiders sold a total of 31,750 shares of company stock worth $1,216,328 over the last ninety days. 0.44% of the stock is currently owned by corporate insiders.

NEM has been the topic of several analyst reports. TD Securities dropped their price target on shares of Newmont Goldcorp from $52.00 to $50.00 and set an “action list buy” rating on the stock in a research report on Monday, August 19th. Raymond James set a $48.00 price objective on shares of Newmont Goldcorp and gave the stock an “outperform” rating in a research report on Tuesday. Royal Bank of Canada raised shares of Newmont Goldcorp from an “underperform” rating to a “sector perform” rating and set a $45.00 target price on the stock in a research note on Monday, September 9th. Deutsche Bank increased their target price on shares of Newmont Goldcorp from $45.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, B. Riley dropped their target price on Newmont Goldcorp from $43.90 to $41.30 and set a “neutral” rating on the stock in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $43.41.

NYSE:NEM opened at $39.38 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.76 and a current ratio of 2.18. The stock has a market capitalization of $32.29 billion, a PE ratio of 29.17 and a beta of -0.06. Newmont Goldcorp Corp has a fifty-two week low of $29.77 and a fifty-two week high of $41.23. The company has a fifty day moving average of $38.24 and a two-hundred day moving average of $37.66.

Newmont Goldcorp (NYSE:NEM) last announced its earnings results on Tuesday, November 5th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.03). The company had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.83 billion. Newmont Goldcorp had a net margin of 25.42% and a return on equity of 4.71%. The firm’s revenue for the quarter was up 57.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.33 EPS. Research analysts forecast that Newmont Goldcorp Corp will post 1.32 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Wednesday, December 4th. Newmont Goldcorp’s dividend payout ratio 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.

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

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