Cetera Advisor Networks LLC Decreases Stock Position in Newmont Goldcorp Corp (NYSE:NEM)

Cetera Advisor Networks LLC lessened its stake in shares of Newmont Goldcorp Corp (NYSE:NEM) by 37.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 8,034 shares of the basic materials company’s stock after selling 4,773 shares during the period. Cetera Advisor Networks LLC’s holdings in Newmont Goldcorp were worth $364,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Successful Portfolios LLC raised its holdings in Newmont Goldcorp by 3.0% during the 1st quarter. Successful Portfolios LLC now owns 7,613 shares of the basic materials company’s stock valued at $345,000 after buying an additional 221 shares during the period. Pacer Advisors Inc. raised its holdings in Newmont Goldcorp by 1.5% during the 1st quarter. Pacer Advisors Inc. now owns 15,662 shares of the basic materials company’s stock valued at $928,000 after buying an additional 230 shares during the period. Tarbox Family Office Inc. raised its holdings in Newmont Goldcorp by 73.8% during the 1st quarter. Tarbox Family Office Inc. now owns 570 shares of the basic materials company’s stock valued at $26,000 after buying an additional 242 shares during the period. Wealthspire Advisors L.P. raised its holdings in Newmont Goldcorp by 4.3% during the 4th quarter. Wealthspire Advisors L.P. now owns 5,910 shares of the basic materials company’s stock valued at $257,000 after buying an additional 244 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its stake in Newmont Goldcorp by 8.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,442 shares of the basic materials company’s stock worth $193,000 after purchasing an additional 360 shares during the period. Institutional investors own 81.47% of the company’s stock.

Shares of NEM stock opened at $63.05 on Monday. Newmont Goldcorp Corp has a 1-year low of $31.10 and a 1-year high of $69.13. The stock’s 50-day moving average is $59.99 and its 200 day moving average is $47.06. The company has a market cap of $50.60 billion, a P/E ratio of 14.56 and a beta of 0.40. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.31 and a quick ratio of 2.81.

Newmont Goldcorp (NYSE:NEM) last issued its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.02). Newmont Goldcorp had a net margin of 33.66% and a return on equity of 5.10%. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the previous year, the business earned $0.33 EPS. Newmont Goldcorp’s revenue for the quarter was up 43.2% compared to the same quarter last year. On average, analysts anticipate that Newmont Goldcorp Corp will post 2.41 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, June 4th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 1.59%. This is an increase from Newmont Goldcorp’s previous quarterly dividend of $0.14. Newmont Goldcorp’s dividend payout ratio (DPR) is presently 42.42%.

NEM has been the topic of a number of recent analyst reports. CIBC upgraded Newmont Goldcorp from a “neutral” rating to an “outperform” rating and set a $58.00 target price on the stock in a research note on Sunday, February 23rd. UBS Group increased their target price on Newmont Goldcorp from $46.00 to $58.00 and gave the stock a “neutral” rating in a research note on Friday, April 17th. Raymond James set a $73.00 target price on Newmont Goldcorp and gave the stock an “outperform” rating in a research note on Wednesday, May 20th. Royal Bank of Canada reissued a “hold” rating and set a $48.00 price target on shares of Newmont Goldcorp in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. increased their price target on Newmont Goldcorp from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $69.08.

In other Newmont Goldcorp news, CAO John Kitlen sold 1,500 shares of the firm’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $48.43, for a total value of $72,645.00. Following the completion of the sale, the chief accounting officer now owns 41,734 shares of the company’s stock, valued at $2,021,177.62. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Stephen P. Gottesfeld sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $47.46, for a total value of $166,110.00. Following the completion of the sale, the executive vice president now directly owns 176,944 shares of the company’s stock, valued at approximately $8,397,762.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 108,383 shares of company stock worth $6,492,212. 0.28% of the stock is owned by corporate insiders.

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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