Insider Selling: Newmont Goldcorp Corp (NEM) COO Sells 1,250 Shares of Stock

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Newmont Goldcorp Corp (NYSE:NEM) COO Thomas Ronald Palmer sold 1,250 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $30.90, for a total value of $38,625.00. Following the completion of the transaction, the chief operating officer now directly owns 275,323 shares of the company’s stock, valued at $8,507,480.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Thomas Ronald Palmer also recently made the following trade(s):

  • On Monday, April 1st, Thomas Ronald Palmer sold 1,250 shares of Newmont Goldcorp stock. The shares were sold at an average price of $35.85, for a total value of $44,812.50.
  • On Friday, March 1st, Thomas Ronald Palmer sold 1,250 shares of Newmont Goldcorp stock. The shares were sold at an average price of $33.90, for a total value of $42,375.00.

Shares of NYSE NEM traded up $0.12 during mid-day trading on Friday, hitting $30.22. 7,044,100 shares of the company were exchanged, compared to its average volume of 11,893,126. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.97 and a quick ratio of 2.62. Newmont Goldcorp Corp has a 1-year low of $29.06 and a 1-year high of $40.84. The company has a market cap of $16.60 billion, a PE ratio of 22.39 and a beta of -0.04.

Newmont Goldcorp (NYSE:NEM) last issued its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.33 earnings per share 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 during the quarter, compared to the consensus estimate of $1.81 billion. During the same period last year, the company earned $0.35 earnings per share. The company’s revenue for the quarter was down .8% on a year-over-year basis. Analysts anticipate that Newmont Goldcorp Corp will post 1.31 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Wednesday, June 5th. Newmont Goldcorp’s dividend payout ratio is presently 41.48%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Newmont Goldcorp during the fourth quarter worth $1,157,000. Duality Advisers LP acquired a new stake in shares of Newmont Goldcorp during the fourth quarter worth $3,130,000. Essex Investment Management Co. LLC lifted its holdings in shares of Newmont Goldcorp by 31.8% during the fourth quarter. Essex Investment Management Co. LLC now owns 59,190 shares of the basic materials company’s stock worth $2,051,000 after purchasing an additional 14,293 shares during the period. LPL Financial LLC lifted its holdings in shares of Newmont Goldcorp by 6.7% during the fourth quarter. LPL Financial LLC now owns 52,190 shares of the basic materials company’s stock worth $1,808,000 after purchasing an additional 3,268 shares during the period. Finally, Mn Services Vermogensbeheer B.V. lifted its holdings in shares of Newmont Goldcorp by 256.5% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 295,601 shares of the basic materials company’s stock worth $8,960,000 after purchasing an additional 212,680 shares during the period. 87.26% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently weighed in on NEM shares. Desjardins reissued a “buy” rating and issued a $43.00 price objective on shares of Newmont Goldcorp in a report on Thursday, April 4th. Raymond James set a $47.00 price objective on Newmont Goldcorp and gave the company an “outperform” rating in a report on Tuesday, March 26th. Canaccord Genuity raised Newmont Goldcorp from a “hold” rating to a “buy” rating and increased their price objective for the company from $37.00 to $42.00 in a report on Tuesday, January 15th. Credit Suisse Group reissued a “buy” rating on shares of Newmont Goldcorp in a report on Wednesday, January 16th. Finally, B. Riley reissued a “neutral” rating and issued a $38.40 price objective on shares of Newmont Goldcorp in a report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $40.96.

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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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Insider Buying and Selling by Quarter for Newmont Goldcorp (NYSE:NEM)

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