Marketfield Asset Management LLC Buys Shares of 88,318 Newmont Goldcorp Corp (NYSE:NEM)
Marketfield Asset Management LLC bought a new stake in shares of Newmont Goldcorp Corp (NYSE:NEM) in the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 88,318 shares of the basic materials company’s stock, valued at approximately $3,349,000. Newmont Goldcorp accounts for 2.0% of Marketfield Asset Management LLC’s investment portfolio, making the stock its 24th largest position.
Other institutional investors have also recently bought and sold shares of 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 worth $25,000 after buying an additional 556 shares during the last quarter. Sterling Investment Advisors Ltd. bought a new stake in shares of Newmont Goldcorp during the 2nd quarter worth $25,000. Valley National Advisers Inc. boosted its holdings in shares of Newmont Goldcorp by 1,212.0% during the 2nd quarter. Valley National Advisers Inc. now owns 656 shares of the basic materials company’s stock worth $25,000 after buying an additional 606 shares during the period. Reilly Financial Advisors LLC bought a new stake in shares of Newmont Goldcorp during the 3rd quarter worth $26,000. Finally, Edge Wealth Management LLC bought a new stake in shares of Newmont Goldcorp during the 2nd quarter worth $27,000. 80.30% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently issued reports on the stock. Barclays set a $43.00 price objective on shares of Newmont Goldcorp and gave the stock a “buy” rating in a report on Tuesday, September 24th. BMO Capital Markets upgraded Newmont Goldcorp from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $45.00 to $50.00 in a report on Wednesday, September 11th. ValuEngine raised Newmont Goldcorp from a “strong sell” rating to a “sell” rating in a research report on Friday, October 11th. TheStreet cut Newmont Goldcorp from a “b-” rating to a “c+” rating in a report on Tuesday, October 1st. Finally, Deutsche Bank upgraded Newmont Goldcorp from a “hold” rating to a “buy” rating in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Newmont Goldcorp has a consensus rating of “Buy” and an average price target of $43.74.
NEM traded up $0.09 during trading hours on Wednesday, reaching $37.78. The company’s stock had a trading volume of 1,908,220 shares, compared to its average volume of 6,971,480. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.83 and a quick ratio of 1.38. The business’s 50-day moving average is $39.02 and its 200-day moving average is $36.47. Newmont Goldcorp Corp has a fifty-two week low of $29.06 and a fifty-two week high of $41.23. The stock has a market cap of $30.84 billion, a PE ratio of 27.98 and a beta of -0.10.
Newmont Goldcorp (NYSE:NEM) last announced its quarterly earnings data on Thursday, July 25th. The basic materials company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same period in the prior year, the company earned $0.26 EPS. Newmont Goldcorp’s quarterly revenue was up 35.8% on a year-over-year basis. Analysts expect that Newmont Goldcorp Corp will post 1.42 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were issued a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, September 11th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.48%. Newmont Goldcorp’s dividend payout ratio (DPR) is presently 41.48%.
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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