6 Meridian Has $589,000 Stock Position in Newmont Goldcorp Corp (NYSE:NEM)

Share on StockTwits

6 Meridian lifted its holdings in shares of Newmont Goldcorp Corp (NYSE:NEM) by 2.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,313 shares of the basic materials company’s stock after buying an additional 302 shares during the quarter. 6 Meridian’s holdings in Newmont Goldcorp were worth $589,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Geode Capital Management LLC boosted its position in Newmont Goldcorp by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 8,229,613 shares of the basic materials company’s stock worth $284,738,000 after purchasing an additional 60,289 shares during the period. Norges Bank acquired a new position in Newmont Goldcorp in the 4th quarter worth $131,587,000. American Century Companies Inc. lifted its holdings in Newmont Goldcorp by 1.8% in the 4th quarter. American Century Companies Inc. now owns 1,212,014 shares of the basic materials company’s stock worth $41,996,000 after buying an additional 21,400 shares in the last quarter. First Hawaiian Bank lifted its holdings in Newmont Goldcorp by 21.8% in the 1st quarter. First Hawaiian Bank now owns 10,217 shares of the basic materials company’s stock worth $365,000 after buying an additional 1,829 shares in the last quarter. Finally, Reitz Capital Advisors LLC acquired a new stake in shares of Newmont Goldcorp in the 1st quarter valued at about $444,000. Institutional investors own 62.78% of the company’s stock.

In other news, VP John Kitlen sold 750 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $35.24, for a total value of $26,430.00. Following the completion of the transaction, the vice president now directly owns 44,173 shares in the company, valued at $1,556,656.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gary J. Goldberg sold 4,000 shares of the 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 $133,240.00. Following the completion of the transaction, the chief executive officer now owns 129,680 shares of the company’s stock, valued at $4,319,640.80. The disclosure for this sale can be found here. Insiders sold 89,720 shares of company stock valued at $3,254,208 over the last quarter. Insiders own 0.44% of the company’s stock.

A number of equities research analysts have recently issued reports on NEM shares. BMO Capital Markets started coverage on shares of Newmont Goldcorp in a research note on Wednesday, July 3rd. They issued a “market perform” rating and a $45.00 target price on the stock. 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. Barclays restated a “buy” rating and issued a $44.00 target price on shares of Newmont Goldcorp in a research note on Sunday, August 4th. Zacks Investment Research lowered shares of Newmont Goldcorp from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Finally, Citigroup upgraded shares of Newmont Goldcorp from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $41.76.

NYSE NEM opened at $38.52 on Friday. Newmont Goldcorp Corp has a 52 week low of $29.06 and a 52 week high of $40.33. The company has a current ratio of 1.83, a quick ratio of 1.38 and a debt-to-equity ratio of 0.30. The stock has a market cap of $31.53 billion, a price-to-earnings ratio of 28.53 and a beta of 0.03. The company has a 50-day moving average price of $38.43 and a two-hundred day moving average price of $35.03.

Newmont Goldcorp (NYSE:NEM) last posted 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 firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.29 billion. Newmont Goldcorp had a positive return on equity of 4.79% and a negative net margin of 1.03%. Newmont Goldcorp’s revenue for the quarter was up 35.8% on a year-over-year basis. During the same quarter last year, the company posted $0.26 EPS. As a group, equities research analysts expect that Newmont Goldcorp Corp will post 1.2 earnings per share for the current fiscal 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 $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Wednesday, September 11th. Newmont Goldcorp’s dividend payout ratio (DPR) is presently 41.48%.

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.

See Also: What is meant by holder of record?

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

Receive News & Ratings for Newmont Goldcorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmont Goldcorp and related companies with MarketBeat.com's FREE daily email newsletter.