Macquarie initiated coverage on shares of Newmont Goldcorp (NYSE:NEM) in a research report released on Thursday morning, The Fly reports. The firm issued a neutral rating on the basic materials company’s stock.

Several other research analysts have also weighed in on NEM. TD Securities reduced their price objective on shares of Newmont Goldcorp from $52.00 to $50.00 and set an action list buy rating on the stock in a research note on Monday, August 19th. BMO Capital Markets upgraded shares of Newmont Goldcorp from a market perform rating to an outperform rating and lifted their price objective for the company from $45.00 to $50.00 in a report on Wednesday. TheStreet upgraded shares of Newmont Goldcorp from a c+ rating to a b- rating in a report on Friday, July 5th. Deutsche Bank set a $41.00 target price on shares of Newmont Goldcorp and gave the stock a hold rating in a report on Thursday, July 11th. Finally, Royal Bank of Canada upgraded shares of Newmont Goldcorp from an underperform rating to a sector perform rating and set a $45.00 target price on the stock in a report on Monday. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $43.56.

NEM traded up $0.14 during midday trading on Thursday, hitting $38.80. The company had a trading volume of 271,210 shares, compared to its average volume of 6,997,110. Newmont Goldcorp has a twelve month low of $29.06 and a twelve month high of $41.23. The firm’s 50-day simple moving average is $38.69 and its 200-day simple moving average is $35.73. 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 company has a market capitalization of $31.29 billion, a PE ratio of 28.64 and a beta of -0.03.

Newmont Goldcorp (NYSE:NEM) last issued its quarterly 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). Newmont Goldcorp had a positive return on equity of 4.79% and a negative net margin of 1.03%. The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the prior year, the firm earned $0.26 EPS. The firm’s quarterly revenue was up 35.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Newmont Goldcorp will post 1.47 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $0.56 annualized dividend and a dividend yield of 1.44%. Newmont Goldcorp’s dividend payout ratio is currently 41.48%.

In other Newmont Goldcorp news, EVP Nancy Lipson sold 5,055 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $37.55, for a total value of $189,815.25. Following the transaction, the executive vice president now directly owns 32,880 shares in the company, valued at $1,234,644. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP John Kitlen sold 750 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $38.63, for a total transaction of $28,972.50. Following the completion of the transaction, the vice president now owns 43,423 shares in the company, valued at $1,677,430.49. The disclosure for this sale can be found here. Over the last quarter, insiders sold 88,915 shares of company stock worth $3,413,745. Corporate insiders own 0.44% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the business. Advantage Investment Management LLC boosted its position in shares of Newmont Goldcorp by 556.0% in the second quarter. Advantage Investment Management LLC now owns 656 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 556 shares during the period. Sterling Investment Advisors Ltd. bought a new stake in shares of Newmont Goldcorp in the second quarter valued at about $25,000. Valley National Advisers Inc. boosted its position in shares of Newmont Goldcorp by 1,212.0% in the second quarter. Valley National Advisers Inc. now owns 656 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 606 shares during the period. Edge Wealth Management LLC bought a new stake in shares of Newmont Goldcorp in the second quarter valued at about $27,000. Finally, Parkside Financial Bank & Trust boosted its position in shares of Newmont Goldcorp by 65.6% in the second quarter. Parkside Financial Bank & Trust now owns 760 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 301 shares during the period. Hedge funds and other institutional investors own 80.40% of the company’s stock.

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.

Further Reading: Penny Stocks

The Fly

Analyst Recommendations 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.