Insider Selling: Newmont Goldcorp Corp (NYSE:NEM) VP Sells 750 Shares of Stock

Newmont Goldcorp Corp (NYSE:NEM) VP John Kitlen sold 750 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $35.24, for a total value of $26,430.00. Following the completion of the sale, the vice president now directly owns 44,173 shares in the company, valued at approximately $1,556,656.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

  • On Thursday, June 6th, John Kitlen sold 750 shares of Newmont Goldcorp stock. The shares were sold at an average price of $35.00, for a total value of $26,250.00.

Newmont Goldcorp stock traded up $0.61 during trading hours on Friday, reaching $36.16. The company had a trading volume of 190,685 shares, compared to its average volume of 8,975,875. The stock has a market capitalization of $29.36 billion, a P/E ratio of 26.63 and a beta of -0.08. Newmont Goldcorp Corp has a 12-month low of $29.06 and a 12-month high of $39.19. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.97 and a quick ratio of 2.62.

Newmont Goldcorp (NYSE:NEM) last issued its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.07. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.81 billion. Newmont Goldcorp had a return on equity of 6.13% and a net margin of 3.26%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the company earned $0.35 EPS. Sell-side analysts expect that Newmont Goldcorp Corp will post 1.39 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be given a $0.14 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.55%. Newmont Goldcorp’s dividend payout ratio is currently 41.48%.

Several hedge funds have recently modified their holdings of NEM. Municipal Employees Retirement System of Michigan bought a new stake in shares of Newmont Goldcorp during the fourth quarter valued at approximately $1,157,000. Duality Advisers LP purchased a new position in shares of Newmont Goldcorp in the fourth quarter worth $3,130,000. Wealthstreet Investment Advisors LLC purchased a new position in shares of Newmont Goldcorp in the first quarter worth $574,000. Essex Investment Management Co. LLC raised its stake in shares of Newmont Goldcorp by 31.8% in the fourth quarter. Essex Investment Management Co. LLC now owns 59,190 shares of the basic materials company’s stock worth $2,051,000 after purchasing an additional 14,293 shares during the last quarter. Finally, GAM Holding AG raised its stake in shares of Newmont Goldcorp by 40.7% in the first quarter. GAM Holding AG now owns 304,735 shares of the basic materials company’s stock worth $10,900,000 after purchasing an additional 88,226 shares during the last quarter. Hedge funds and other institutional investors own 87.57% of the company’s stock.

Several analysts have weighed in on NEM shares. TheStreet raised Newmont Goldcorp from a “c” rating to a “b-” rating in a report on Thursday, February 21st. Desjardins reaffirmed a “buy” rating and issued a $43.00 price target on shares of Newmont Goldcorp in a report on Thursday, April 4th. Barclays reaffirmed a “buy” rating and issued a $39.00 price target on shares of Newmont Goldcorp in a report on Thursday, March 28th. TD Securities raised Newmont Goldcorp from a “hold” rating to a “buy” rating and raised their price target for the company from $38.00 to $46.00 in a report on Monday, April 22nd. Finally, Citigroup raised Newmont Goldcorp from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. Newmont Goldcorp has a consensus rating of “Buy” and an average target price of $41.23.

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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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