Clean Yield Group Trims Stock Holdings in Newmont Goldcorp Corp (NYSE:NEM)
Clean Yield Group decreased its stake in Newmont Goldcorp Corp (NYSE:NEM) by 65.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,850 shares of the basic materials company’s stock after selling 3,450 shares during the quarter. Clean Yield Group’s holdings in Newmont Goldcorp were worth $117,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Contravisory Investment Management Inc. purchased a new stake in Newmont Goldcorp in the third quarter worth about $26,000. Rosenberg Matthew Hamilton purchased a new stake in Newmont Goldcorp in the second quarter worth about $27,000. Providence Capital Advisors LLC purchased a new stake in Newmont Goldcorp in the second quarter worth about $28,000. Trust Co. of Vermont boosted its stake in shares of Newmont Goldcorp by 211.0% in the second quarter. Trust Co. of Vermont now owns 737 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 500 shares during the period. Finally, FAI Wealth Management bought a new position in shares of Newmont Goldcorp in the second quarter worth about $49,000. Institutional investors and hedge funds own 79.46% of the company’s stock.
A number of equities analysts have recently weighed in on NEM shares. Credit Suisse Group reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Newmont Goldcorp in a research note on Wednesday, July 29th. UBS Group upped their price objective on Newmont Goldcorp from $58.00 to $71.00 and gave the stock a “neutral” rating in a research note on Monday, August 24th. Barclays upped their price objective on Newmont Goldcorp from $58.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, July 20th. Fundamental Research upped their price objective on Newmont Goldcorp from $74.64 to $75.59 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $57.00 price objective on shares of Newmont Goldcorp in a research note on Tuesday, July 28th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $72.69.
NEM stock traded down $0.33 during midday trading on Friday, reaching $62.67. 3,583,335 shares of the company traded hands, compared to its average volume of 8,349,386. Newmont Goldcorp Corp has a 52-week low of $33.00 and a 52-week high of $72.22. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.41 and a current ratio of 2.81. The business has a 50 day moving average of $64.30 and a 200-day moving average of $61.71. The firm has a market capitalization of $50.33 billion, a price-to-earnings ratio of 13.08 and a beta of 0.36.
Newmont Goldcorp (NYSE:NEM) last issued its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Newmont Goldcorp had a net margin of 36.79% and a return on equity of 5.70%. The company had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Research analysts anticipate that Newmont Goldcorp Corp will post 2.49 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th were issued a $0.25 dividend. The ex-dividend date was Wednesday, September 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.60%. Newmont Goldcorp’s payout ratio is 75.76%.
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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