Newmont Goldcorp Corp (NYSE:NEM) CAO John Kitlen sold 750 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $39.32, for a total value of $29,490.00. Following the completion of the sale, the chief accounting officer now directly owns 41,923 shares in the company, valued at approximately $1,648,412.36. 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 Monday, August 5th, John Kitlen sold 750 shares of Newmont Goldcorp stock. The shares were sold at an average price of $37.91, for a total value of $28,432.50.
  • On Monday, July 8th, John Kitlen sold 750 shares of Newmont Goldcorp stock. The stock was sold at an average price of $38.63, for a total value of $28,972.50.

Shares of NYSE NEM traded up $0.70 during trading hours on Wednesday, reaching $38.72. 7,506,041 shares of the stock traded hands, compared to its average volume of 10,197,916. The company’s 50-day simple moving average is $38.70 and its two-hundred day simple moving average is $35.72. The company has a market capitalization of $31.21 billion, a P/E ratio of 28.68 and a beta of -0.03. Newmont Goldcorp Corp has a 52-week low of $29.06 and a 52-week high of $41.23. The company has a quick ratio of 1.38, a current ratio of 1.83 and a debt-to-equity ratio of 0.30.

Newmont Goldcorp (NYSE:NEM) last issued its earnings results on Thursday, July 25th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.11). Newmont Goldcorp had a positive return on equity of 4.79% and a negative net margin of 1.03%. The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the prior year, the company earned $0.26 EPS. The firm’s quarterly revenue was up 35.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Newmont Goldcorp Corp will post 1.37 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Wednesday, September 11th. Newmont Goldcorp’s dividend payout ratio (DPR) is presently 41.48%.

NEM has been the topic of several research analyst reports. B. Riley upped their price objective on shares of Newmont Goldcorp from $35.10 to $45.40 and gave the stock a “neutral” rating in a research report on Monday. Barclays reiterated a “buy” rating and set a $44.00 target price on shares of Newmont Goldcorp in a research report on Sunday, August 4th. TD Securities cut their price target on shares of Newmont Goldcorp from $52.00 to $50.00 and set an “action list buy” rating for the company in a research note on Monday, August 19th. Deutsche Bank set a $41.00 price target on shares of Newmont Goldcorp and gave the stock a “hold” rating in a report on Thursday, July 11th. Finally, Zacks Investment Research lowered shares of Newmont Goldcorp from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $43.56.

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of 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 valued at $3,451,358,000 after purchasing an additional 30,786,889 shares in the last quarter. BlackRock Inc. grew 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 during the last quarter. Van ECK Associates Corp grew its holdings in shares of Newmont Goldcorp by 33.0% during 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 last quarter. Nuveen Asset Management LLC raised its position in 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 worth $308,996,000 after purchasing an additional 8,019,409 shares during the period. Finally, Bank of New York Mellon Corp raised its position in 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 worth $519,836,000 after purchasing an additional 3,328,151 shares during the period. Hedge funds and other institutional investors own 80.40% 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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