Minneapolis Portfolio Management Group LLC Makes New Investment in Newmont Goldcorp Corp (NYSE:NEM)

Minneapolis Portfolio Management Group LLC acquired a new position in shares of Newmont Goldcorp Corp (NYSE:NEM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 784,833 shares of the basic materials company’s stock, valued at approximately $30,193,000. Newmont Goldcorp comprises about 3.6% of Minneapolis Portfolio Management Group LLC’s portfolio, making the stock its 15th biggest position. Minneapolis Portfolio Management Group LLC owned approximately 0.10% of Newmont Goldcorp as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NEM. Gables Capital Management Inc. boosted its stake in shares of Newmont Goldcorp by 11.9% in the 2nd quarter. Gables Capital Management Inc. now owns 6,156 shares of the basic materials company’s stock valued at $237,000 after purchasing an additional 656 shares during the last quarter. Wealthstreet Investment Advisors LLC acquired a new stake in shares of Newmont Goldcorp in the 1st quarter valued at approximately $574,000. Winslow Evans & Crocker Inc. raised its position in shares of Newmont Goldcorp by 19.8% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 13,906 shares of the basic materials company’s stock valued at $536,000 after acquiring an additional 2,296 shares during the period. AE Wealth Management LLC acquired a new stake in shares of Newmont Goldcorp in the 2nd quarter valued at approximately $1,508,000. Finally, GAM Holding AG raised its position in shares of Newmont Goldcorp by 40.7% in the 1st quarter. GAM Holding AG now owns 304,735 shares of the basic materials company’s stock valued at $10,900,000 after acquiring an additional 88,226 shares during the period. 62.78% of the stock is currently owned by hedge funds and other institutional investors.

NEM stock traded up $0.04 during mid-day trading on Friday, hitting $38.52. 493,596 shares of the company were exchanged, compared to its average volume of 8,718,869. 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 firm has a market cap of $30.88 billion, a P/E ratio of 28.56 and a beta of 0.03. The firm’s 50 day simple moving average is $38.43 and its 200 day simple moving average is $35.03. Newmont Goldcorp Corp has a 1-year low of $29.06 and a 1-year high of $40.33.

Newmont Goldcorp (NYSE:NEM) last announced its earnings results on Thursday, July 25th. The basic materials company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.11). The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.29 billion. Newmont Goldcorp had a positive return on equity of 4.79% and a negative net margin of 1.03%. The business’s quarterly revenue was up 35.8% on a year-over-year basis. During the same quarter last year, the business posted $0.26 earnings per share. On average, equities research analysts predict that Newmont Goldcorp Corp will post 1.2 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders 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 annualized dividend and a yield of 1.45%. Newmont Goldcorp’s dividend payout ratio (DPR) is currently 41.48%.

In other Newmont Goldcorp news, CFO Nancy Buese sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $31.63, for a total transaction of $237,225.00. Following the sale, the chief financial officer now directly owns 53,118 shares in the company, valued at approximately $1,680,122.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Thomas Ronald Palmer sold 1,250 shares of Newmont Goldcorp stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $33.31, for a total transaction of $41,637.50. Following the completion of the sale, the president now owns 274,073 shares in the company, valued at $9,129,371.63. The disclosure for this sale can be found here. Insiders have sold a total of 89,720 shares of company stock worth $3,254,208 over the last 90 days. Corporate insiders own 0.44% of the company’s stock.

A number of analysts recently weighed in on NEM shares. Raymond James reiterated an “outperform” rating and issued a $47.00 price target on shares of Newmont Goldcorp in a research report on Friday, April 26th. Zacks Investment Research downgraded shares of Newmont Goldcorp from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Citigroup upgraded shares of Newmont Goldcorp from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Thursday, May 23rd. TheStreet upgraded shares of Newmont Goldcorp from a “c+” rating to a “b-” rating in a research report on Friday, July 5th. Finally, Barclays reiterated a “buy” rating and issued a $44.00 price target on shares of Newmont Goldcorp in a research report on Sunday, August 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Newmont Goldcorp has a consensus rating of “Buy” and a consensus target price of $41.76.

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

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