Newmont Goldcorp Corp (NEM) Receives Average Recommendation of “Buy” from Analysts

Newmont Goldcorp Corp (NYSE:NEM) has been given an average recommendation of “Buy” by the eighteen analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $40.39.

A number of equities research analysts have issued reports on the company. ValuEngine lowered Newmont Goldcorp from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Raymond James reduced their price target on Newmont Goldcorp from $48.00 to $47.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 5th. Canaccord Genuity raised Newmont Goldcorp from a “hold” rating to a “buy” rating and increased their price target for the company from $37.00 to $42.00 in a research report on Tuesday, January 15th. Barclays increased their price target on Newmont Goldcorp from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Finally, Credit Suisse Group reaffirmed a “buy” rating on shares of Newmont Goldcorp in a research report on Wednesday, January 16th.

NEM opened at $30.20 on Thursday. Newmont Goldcorp has a 12-month low of $29.06 and a 12-month high of $40.84. 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 market cap of $25.18 billion, a P/E ratio of 22.37 and a beta of -0.04.

Newmont Goldcorp (NYSE:NEM) last posted its earnings results on Thursday, April 25th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the prior year, the company earned $0.35 EPS. Newmont Goldcorp’s revenue was down .8% on a year-over-year basis. Equities analysts forecast that Newmont Goldcorp will post 1.39 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be issued a $0.14 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.85%. Newmont Goldcorp’s payout ratio is currently 41.48%.

In other news, insider Thomas Ronald Palmer sold 1,250 shares of the stock in a transaction dated Monday, April 1st. The stock was 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 approximately $9,915,142.05. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gary J. Goldberg sold 4,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $30.90, for a total value of $123,600.00. Following the completion of the transaction, the chief executive officer now owns 129,680 shares in the company, valued at approximately $4,007,112. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,850 shares of company stock worth $1,544,937. Company insiders own 0.44% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NEM. Legal & General Group Plc increased its holdings in shares of Newmont Goldcorp by 6.6% in the 3rd quarter. Legal & General Group Plc now owns 3,171,895 shares of the basic materials company’s stock valued at $95,821,000 after acquiring an additional 195,390 shares during the last quarter. Vanguard Group Inc increased its holdings in shares of Newmont Goldcorp by 1.1% in the 3rd quarter. Vanguard Group Inc now owns 57,312,640 shares of the basic materials company’s stock valued at $1,730,842,000 after acquiring an additional 620,141 shares during the last quarter. LGT Capital Partners LTD. increased its holdings in shares of Newmont Goldcorp by 73.7% in the 4th quarter. LGT Capital Partners LTD. now owns 665,600 shares of the basic materials company’s stock valued at $23,063,000 after acquiring an additional 282,400 shares during the last quarter. Gateway Investment Advisers LLC increased its holdings in shares of Newmont Goldcorp by 7.9% in the 4th quarter. Gateway Investment Advisers LLC now owns 83,925 shares of the basic materials company’s stock valued at $2,908,000 after acquiring an additional 6,168 shares during the last quarter. Finally, DNB Asset Management AS increased its holdings in shares of Newmont Goldcorp by 14.4% in the 4th quarter. DNB Asset Management AS now owns 147,057 shares of the basic materials company’s stock valued at $5,096,000 after acquiring an additional 18,530 shares during the last quarter. Institutional investors and hedge funds own 87.57% 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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