Insider Selling: Newmont Goldcorp Corp (NYSE:NEM) EVP Sells 3,500 Shares of Stock

Newmont Goldcorp Corp (NYSE:NEM) EVP Stephen P. Gottesfeld sold 3,500 shares of Newmont Goldcorp stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $38.48, for a total transaction of $134,680.00. Following the completion of the transaction, the executive vice president now directly owns 187,404 shares of the company’s stock, valued at $7,211,305.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of NEM traded down $0.04 during mid-day trading on Friday, hitting $38.62. 9,773,614 shares of the company traded hands, compared to its average volume of 10,187,721. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.38 and a current ratio of 1.83. The stock has a 50-day moving average price of $38.69 and a two-hundred day moving average price of $35.73. Newmont Goldcorp Corp has a 1 year low of $29.06 and a 1 year high of $41.23. The stock has a market cap of $31.29 billion, a price-to-earnings ratio of 28.61 and a beta of -0.03.

Newmont Goldcorp (NYSE:NEM) last released its quarterly earnings data on Thursday, July 25th. The basic materials company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.11). Newmont Goldcorp had a negative net margin of 1.03% and a positive return on equity of 4.79%. The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the previous year, the firm earned $0.26 earnings per share. The firm’s revenue for the quarter was up 35.8% on a year-over-year basis. On average, analysts forecast that Newmont Goldcorp Corp will post 1.47 EPS for the current year.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advantage Investment Management LLC increased its holdings in Newmont Goldcorp by 556.0% during the second quarter. Advantage Investment Management LLC now owns 656 shares of the basic materials company’s stock valued at $25,000 after buying an additional 556 shares during the last quarter. Sterling Investment Advisors Ltd. purchased a new stake in Newmont Goldcorp during the second quarter valued at approximately $25,000. Valley National Advisers Inc. increased its holdings in Newmont Goldcorp by 1,212.0% during the second quarter. Valley National Advisers Inc. now owns 656 shares of the basic materials company’s stock valued at $25,000 after buying an additional 606 shares during the last quarter. Edge Wealth Management LLC purchased a new stake in Newmont Goldcorp during the second quarter valued at approximately $27,000. Finally, Parkside Financial Bank & Trust increased its holdings in Newmont Goldcorp by 65.6% during the second quarter. Parkside Financial Bank & Trust now owns 760 shares of the basic materials company’s stock valued at $29,000 after buying an additional 301 shares during the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have issued reports on NEM shares. TheStreet raised shares of Newmont Goldcorp from a “c+” rating to a “b-” rating in a report on Friday, July 5th. Citigroup lifted their target price on shares of Newmont Goldcorp from $44.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday. TD Securities decreased their target price on shares of Newmont Goldcorp from $52.00 to $50.00 and set an “action list buy” rating for the company in a report on Monday, August 19th. Royal Bank of Canada raised shares of Newmont Goldcorp from an “underperform” rating to a “sector perform” rating and set a $45.00 target price for the company in a report on Monday. Finally, B. Riley lifted their target price on shares of Newmont Goldcorp from $35.10 to $45.40 and gave the stock a “neutral” rating in a report on Monday. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $43.56.

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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Insider Buying and Selling by Quarter for Newmont Goldcorp (NYSE:NEM)

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