Stifel Financial Corp boosted its stake in Newmont Goldcorp Corp (NYSE:NEM) by 0.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 224,602 shares of the basic materials company’s stock after buying an additional 1,761 shares during the quarter. Stifel Financial Corp’s holdings in Newmont Goldcorp were worth $8,518,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in NEM. Advantage Investment Management LLC grew its holdings in shares of Newmont Goldcorp by 556.0% in the 2nd quarter. Advantage Investment Management LLC now owns 656 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 556 shares during the last quarter. Sterling Investment Advisors Ltd. acquired a new stake in shares of Newmont Goldcorp during the second quarter worth approximately $25,000. Valley National Advisers Inc. increased its holdings in shares of Newmont Goldcorp by 1,212.0% during the second quarter. Valley National Advisers Inc. now owns 656 shares of the basic materials company’s stock worth $25,000 after buying an additional 606 shares in the last quarter. Reilly Financial Advisors LLC bought a new position in shares of Newmont Goldcorp in the third quarter valued at approximately $26,000. Finally, Parkside Financial Bank & Trust raised its stake in shares of Newmont Goldcorp by 65.6% in the second quarter. Parkside Financial Bank & Trust now owns 760 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 301 shares during the last quarter. 81.06% of the stock is currently owned by institutional investors and hedge funds.
Shares of NEM opened at $39.38 on Wednesday. The business’s fifty day moving average price is $38.24 and its two-hundred day moving average price is $37.66. The firm has a market capitalization of $32.29 billion, a price-to-earnings ratio of 29.17 and a beta of -0.06. Newmont Goldcorp Corp has a 52 week low of $29.77 and a 52 week high of $41.23. 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.56 annualized dividend and a yield of 1.42%. Newmont Goldcorp’s dividend payout ratio is currently 41.48%.
In other Newmont Goldcorp news, CAO John Kitlen sold 750 shares of Newmont Goldcorp stock in a transaction on Monday, September 9th. The shares were sold at an average price of $39.32, for a total transaction of $29,490.00. Following the completion of the sale, the chief accounting officer now owns 41,923 shares of the company’s stock, valued at approximately $1,648,412.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas Ronald Palmer sold 4,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $37.56, for a total transaction of $150,240.00. Following the sale, the chief executive officer now owns 250,073 shares of the company’s stock, valued at approximately $9,392,741.88. The disclosure for this sale can be found here. Insiders have sold a total of 31,750 shares of company stock valued at $1,216,328 over the last three months. Company insiders own 0.44% of the company’s stock.
A number of equities research analysts recently commented on NEM shares. Barclays set a $45.00 price target on Newmont Goldcorp and gave the stock a “buy” rating in a research report on Tuesday, October 15th. BMO Capital Markets reduced their price objective on Newmont Goldcorp from $50.00 to $47.00 and set an “outperform” rating on the stock in a research note on Tuesday. They noted that the move was a valuation call. Citigroup increased their target price on Newmont Goldcorp from $44.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. ValuEngine upgraded Newmont Goldcorp from a “strong sell” rating to a “sell” rating in a research note on Friday, October 11th. Finally, Deutsche Bank lifted their price target on Newmont Goldcorp from $45.00 to $46.00 and gave the company a “buy” rating in a report on Tuesday. One research 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 company. The stock has an average rating of “Buy” and a consensus target price of $43.41.
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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