Kornitzer Capital Management Inc. KS Sells 6,475 Shares of Newmont Goldcorp Corp (NYSE:NEM)

Kornitzer Capital Management Inc. KS decreased its position in shares of Newmont Goldcorp Corp (NYSE:NEM) by 9.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 64,500 shares of the basic materials company’s stock after selling 6,475 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Newmont Goldcorp were worth $2,481,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of NEM. Advantage Investment Management LLC grew its stake in shares of Newmont Goldcorp by 556.0% during the 2nd quarter. Advantage Investment Management LLC now owns 656 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 556 shares during the period. Edge Wealth Management LLC bought a new position in Newmont Goldcorp in the 2nd quarter worth about $27,000. Rehmann Capital Advisory Group boosted its stake in Newmont Goldcorp by 350.2% in the 1st quarter. Rehmann Capital Advisory Group now owns 968 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 753 shares during the period. Legacy Bridge LLC bought a new position in Newmont Goldcorp in the 1st quarter worth about $36,000. Finally, Ellis Investment Partners LLC bought a new position in Newmont Goldcorp in the 1st quarter worth about $39,000. Institutional investors own 62.78% of the company’s stock.

Shares of NYSE:NEM traded down $0.24 on Friday, hitting $38.28. The company’s stock had a trading volume of 158,035 shares, compared to its average volume of 8,718,869. The company has a 50-day simple moving average of $38.43 and a 200 day simple moving average of $35.03. Newmont Goldcorp Corp has a 1 year low of $29.06 and a 1 year high of $40.33. The company has a market capitalization of $30.88 billion, a PE ratio of 28.43 and a beta of 0.03. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.83 and a quick ratio of 1.38.

Newmont Goldcorp (NYSE:NEM) last released its quarterly earnings results 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). The business had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Newmont Goldcorp had a negative net margin of 1.03% and a positive return on equity of 4.79%. The business’s revenue was up 35.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.26 EPS. On average, equities research analysts expect that Newmont Goldcorp Corp will post 1.2 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be issued a dividend of $0.14 per share. The ex-dividend date is Wednesday, September 11th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.46%. Newmont Goldcorp’s dividend payout ratio is 41.48%.

In related news, CAO John Kitlen sold 750 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $35.00, for a total transaction of $26,250.00. Following the transaction, the chief accounting officer now directly owns 44,923 shares of the company’s stock, valued at approximately $1,572,305. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Thomas Ronald Palmer sold 16,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $35.89, for a total value of $574,240.00. Following the transaction, the president now directly owns 256,823 shares in the company, valued at $9,217,377.47. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,720 shares of company stock worth $3,254,208. 0.44% of the stock is currently owned by insiders.

Several research analysts have commented on NEM shares. BMO Capital Markets started coverage on Newmont Goldcorp in a research note on Wednesday, July 3rd. They issued a “market perform” rating and a $45.00 target price for the company. TheStreet upgraded Newmont Goldcorp from a “c+” rating to a “b-” rating in a research note on Friday, July 5th. TD Securities raised their target price on Newmont Goldcorp from $46.00 to $47.00 and gave the stock an “action list buy” rating in a research note on Tuesday, June 25th. Zacks Investment Research downgraded Newmont Goldcorp from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Finally, Raymond James restated an “outperform” rating and issued a $47.00 target price on shares of Newmont Goldcorp in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $41.76.

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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Institutional Ownership by Quarter for Newmont Goldcorp (NYSE:NEM)

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