Wealthfront Advisers LLC lowered its stake in Newmont Goldcorp Corp (NYSE:NEM) by 14.7% in the first quarter, Holdings Channel reports. The institutional investor owned 30,082 shares of the basic materials company’s stock after selling 5,195 shares during the quarter. Wealthfront Advisers LLC’s holdings in Newmont Goldcorp were worth $1,076,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Newmont Goldcorp in the fourth quarter worth about $1,157,000. Duality Advisers LP acquired a new stake in shares of Newmont Goldcorp in the fourth quarter worth about $3,130,000. Wealthstreet Investment Advisors LLC acquired a new stake in shares of Newmont Goldcorp in the first quarter worth about $574,000. Essex Investment Management Co. LLC lifted its position 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 buying an additional 14,293 shares during the last quarter. Finally, GAM Holding AG lifted its position 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 buying an additional 88,226 shares during the last quarter. 87.57% of the stock is owned by institutional investors.
In related news, EVP Stephen P. Gottesfeld sold 3,500 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $35.02, for a total transaction of $122,570.00. Following the transaction, the executive vice president now directly owns 214,904 shares in the company, valued at $7,525,938.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas Ronald Palmer sold 1,250 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $35.85, for a total value of $44,812.50. Following the transaction, the insider now owns 276,573 shares in the company, valued at $9,915,142.05. The disclosure for this sale can be found here. Insiders have sold 44,305 shares of company stock worth $1,483,868 over the last 90 days. Corporate insiders own 0.44% of the company’s stock.
Newmont Goldcorp (NYSE:NEM) last posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. Newmont Goldcorp had a return on equity of 6.13% and a net margin of 3.26%. The business had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter in the previous year, the firm earned $0.35 EPS. The firm’s revenue was down .8% compared to the same quarter last year. As a group, equities research analysts forecast that Newmont Goldcorp Corp will post 1.39 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be paid a dividend of $0.14 per share. The ex-dividend date is Wednesday, June 5th. This represents a $0.56 annualized dividend and a yield of 1.55%. Newmont Goldcorp’s dividend payout ratio is 41.48%.
NEM has been the subject of a number of analyst reports. Raymond James set a $47.00 price target on Newmont Goldcorp and gave the stock an “outperform” rating in a research report on Tuesday, March 12th. TD Securities raised Newmont Goldcorp from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $38.00 to $46.00 in a research report on Monday, April 22nd. Desjardins reissued a “buy” rating and set a $43.00 price objective on shares of Newmont Goldcorp in a research report on Thursday, April 4th. Barclays boosted their price objective on Newmont Goldcorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Finally, Citigroup raised Newmont Goldcorp from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $41.23.
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Newmont Goldcorp 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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