Newmont Goldcorp (NYSE:NEM) Given a $41.00 Price Target at Deutsche Bank

Deutsche Bank set a $41.00 price objective on Newmont Goldcorp (NYSE:NEM) in a research report released on Thursday morning, Stock Target Advisor reports. The firm currently has a hold rating on the basic materials company’s stock.

Other equities research analysts have also recently issued research reports about the company. TD Securities dropped their price objective on Northern Dynasty Minerals from C$1.30 to C$0.90 and set a hold rating for the company in a report on Tuesday, June 25th. Citigroup cut Barrick Gold to a neutral rating in a report on Thursday, May 23rd. Royal Bank of Canada lowered their target price on Newmont Goldcorp to $39.00 and set an underperform rating for the company in a research note on Monday, April 8th. Zacks Investment Research cut Hess Midstream Partners from a hold rating to a sell rating in a research note on Tuesday, May 14th. Finally, Barclays set a $192.00 target price on Tesla and gave the company a sell rating in a research note on Tuesday, April 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Newmont Goldcorp presently has an average rating of Buy and an average price target of $41.56.

NYSE NEM opened at $39.42 on Thursday. Newmont Goldcorp has a fifty-two week low of $29.06 and a fifty-two week high of $39.49. The company has a current ratio of 2.97, a quick ratio of 2.62 and a debt-to-equity ratio of 0.32. The stock has a 50 day simple moving average of $36.08. The stock has a market cap of $32.31 billion, a PE ratio of 29.20 and a beta of 0.04.

Newmont Goldcorp (NYSE:NEM) last released 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 last year, the business posted $0.35 EPS. The business’s revenue was down .8% on a year-over-year basis. Equities analysts forecast that Newmont Goldcorp will post 1.49 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend was Wednesday, June 5th. Newmont Goldcorp’s payout ratio is presently 41.48%.

In other Newmont Goldcorp news, EVP Nancy Lipson sold 5,055 shares of Newmont Goldcorp stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $39.00, for a total transaction of $197,145.00. Following the completion of the transaction, the executive vice president now owns 27,825 shares in the company, valued at $1,085,175. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John Kitlen sold 750 shares of Newmont Goldcorp stock in a transaction on Monday, July 8th. The shares were sold at an average price of $38.63, for a total value of $28,972.50. Following the transaction, the vice president now owns 43,423 shares of the company’s stock, valued at approximately $1,677,430.49. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,220 shares of company stock valued at $2,141,220. 0.44% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in NEM. Bessemer Group Inc. increased its holdings in Newmont Goldcorp by 377.3% in the 4th quarter. Bessemer Group Inc. now owns 840 shares of the basic materials company’s stock valued at $29,000 after buying an additional 664 shares during the period. Berman Capital Advisors LLC bought a new stake in shares of Newmont Goldcorp in the 4th quarter worth about $30,000. Natixis Advisors L.P. grew its holdings in shares of Newmont Goldcorp by 57.1% in the 4th quarter. Natixis Advisors L.P. now owns 113,921 shares of the basic materials company’s stock worth $3,947,000 after purchasing an additional 41,416 shares during the last quarter. Brown Advisory Inc. grew its holdings in shares of Newmont Goldcorp by 18.7% in the 4th quarter. Brown Advisory Inc. now owns 22,220 shares of the basic materials company’s stock worth $771,000 after purchasing an additional 3,493 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Newmont Goldcorp by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 8,229,613 shares of the basic materials company’s stock worth $284,738,000 after purchasing an additional 60,289 shares during the last quarter. Institutional investors and hedge funds own 60.72% of the company’s stock.

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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Analyst Recommendations for Newmont Goldcorp (NYSE:NEM)

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