Flagship Harbor Advisors LLC grew its stake in Newmont Goldcorp Corp (NYSE:NEM) by 82.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,034 shares of the basic materials company’s stock after purchasing an additional 1,823 shares during the period. Flagship Harbor Advisors LLC’s holdings in Newmont Goldcorp were worth $255,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Contravisory Investment Management Inc. bought a new stake in shares of Newmont Goldcorp in the 3rd quarter valued at approximately $26,000. Jaffetilchin Investment Partners LLC bought a new stake in shares of Newmont Goldcorp during the 2nd quarter worth approximately $27,000. Rosenberg Matthew Hamilton bought a new stake in shares of Newmont Goldcorp during the 2nd quarter worth approximately $27,000. Providence Capital Advisors LLC bought a new stake in shares of Newmont Goldcorp during the 2nd quarter worth approximately $28,000. Finally, Trust Co. of Vermont lifted its stake in shares of Newmont Goldcorp by 211.0% during the 2nd 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 last quarter. 79.46% of the stock is owned by institutional investors and hedge funds.
In related news, CAO John Kitlen sold 2,000 shares of the business’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $62.27, for a total transaction of $124,540.00. Following the transaction, the chief accounting officer now directly owns 37,742 shares in the company, valued at approximately $2,350,194.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Thomas Ronald Palmer sold 5,150 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $69.20, for a total value of $356,380.00. Following the transaction, the chief executive officer now owns 268,297 shares in the company, valued at $18,566,152.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 53,291 shares of company stock worth $3,543,295. 0.28% of the stock is owned by company insiders.
Newmont Goldcorp (NYSE:NEM) last announced its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.37 billion. Research analysts predict that Newmont Goldcorp Corp will post 2.49 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Thursday, September 10th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, September 9th. This represents a $1.00 annualized dividend and a yield of 1.60%. Newmont Goldcorp’s dividend payout ratio (DPR) is 75.76%.
A number of brokerages recently issued reports on NEM. Barclays raised their price target 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. UBS Group raised their price objective on Newmont Goldcorp from $58.00 to $71.00 and gave the stock a “neutral” rating in a report on Monday, August 24th. Royal Bank of Canada restated a “hold” rating and set a $57.00 price objective on shares of Newmont Goldcorp in a report on Tuesday, July 28th. Fundamental Research raised their price objective on Newmont Goldcorp from $74.64 to $75.59 and gave the stock a “buy” rating in a report on Thursday, August 13th. Finally, Citigroup reduced their price objective on Newmont Goldcorp from $74.00 to $70.00 in a report on Monday, June 29th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $72.69.
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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