Deutsche Bank set a $41.00 price objective on Newmont Goldcorp (NYSE:NEM) in a report issued on Thursday morning, Stock Target Advisor reports. The firm currently has a hold rating on the basic materials company’s stock.
A number of other equities analysts have also issued reports on the company. Desjardins reissued a buy rating and issued a $43.00 price objective on shares of Newmont Goldcorp in a report on Thursday, April 4th. Barclays set a $192.00 price objective on Tesla and gave the stock a sell rating in a report on Tuesday, April 9th. B. Riley began coverage on Smart Sand in a report on Tuesday, March 19th. They issued a hold rating and a $5.00 price objective for the company. Zacks Investment Research lowered Hess Midstream Partners from a hold rating to a sell rating in a report on Tuesday, May 14th. Finally, TheStreet lowered Primeenergy Resources from a b- rating to a c rating in a report on Friday, July 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $41.56.
Shares of NEM stock opened at $39.42 on Thursday. Newmont Goldcorp has a 12-month low of $29.06 and a 12-month high of $39.49. The company has a market cap of $32.31 billion, a price-to-earnings ratio of 29.20 and a beta of 0.04. The business has a 50 day simple moving average of $36.08. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.97 and a quick ratio of 2.62.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th were given a dividend of $0.14 per share. The ex-dividend date was Wednesday, June 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.42%. Newmont Goldcorp’s dividend payout ratio (DPR) is presently 41.48%.
In other news, CAO John Kitlen sold 750 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $35.00, for a total transaction of $26,250.00. Following the completion of the sale, the chief accounting officer now owns 44,923 shares in the company, valued at approximately $1,572,305. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nancy Lipson sold 5,055 shares of the stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $39.00, for a total value of $197,145.00. Following the sale, the executive vice president now owns 27,825 shares of the company’s stock, valued at approximately $1,085,175. The disclosure for this sale can be found here. Insiders have sold a total of 61,220 shares of company stock valued at $2,141,220 in the last quarter. Insiders own 0.44% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its holdings in Newmont Goldcorp by 377.3% during the fourth quarter. Bessemer Group Inc. now owns 840 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 664 shares during the last quarter. Berman Capital Advisors LLC acquired a new position in Newmont Goldcorp during the fourth quarter worth $30,000. Natixis Advisors L.P. raised its holdings in Newmont Goldcorp by 57.1% during the fourth quarter. Natixis Advisors L.P. now owns 113,921 shares of the basic materials company’s stock worth $3,947,000 after purchasing an additional 41,416 shares during the last quarter. Brown Advisory Inc. raised its holdings in Newmont Goldcorp by 18.7% during the fourth quarter. Brown Advisory Inc. now owns 22,220 shares of the basic materials company’s stock worth $771,000 after purchasing an additional 3,493 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Newmont Goldcorp by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 8,229,613 shares of the basic materials company’s stock worth $284,738,000 after purchasing an additional 60,289 shares during the last quarter. Institutional investors own 60.73% of the company’s stock.
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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