Newmont Goldcorp Sees Unusually High Options Volume (NYSE:NEM)
Newmont Goldcorp Corp (NYSE:NEM) was the target of some unusual options trading on Tuesday. Investors bought 43,301 put options on the company. This is an increase of approximately 1,294% compared to the average daily volume of 3,106 put options.
A number of equities research analysts have recently commented on NEM shares. Deutsche Bank set a $41.00 price objective on Newmont Goldcorp and gave the company a “hold” rating in a research report on Thursday, July 11th. TheStreet raised Newmont Goldcorp from a “c+” rating to a “b-” rating in a research report on Friday, July 5th. BMO Capital Markets started coverage on Newmont Goldcorp in a research report on Wednesday, July 3rd. They set a “market perform” rating and a $45.00 price target for the company. Citigroup raised Newmont Goldcorp from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Thursday, May 23rd. Finally, Raymond James reissued an “outperform” rating and set a $47.00 price target on shares of Newmont Goldcorp in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $41.76.
In other news, CAO John Kitlen sold 750 shares of Newmont Goldcorp stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $35.00, for a total value of $26,250.00. Following the completion of the sale, the chief accounting officer now owns 44,923 shares of the company’s stock, valued at $1,572,305. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Scott P. Lawson sold 3,000 shares of Newmont Goldcorp stock in a transaction on Monday, August 5th. The shares were sold at an average price of $37.91, for a total value of $113,730.00. Following the completion of the sale, the executive vice president now directly owns 124,545 shares of the company’s stock, valued at approximately $4,721,500.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,720 shares of company stock valued at $3,254,208. Company insiders own 0.44% of the company’s stock.
Shares of NEM opened at $37.66 on Wednesday. The stock’s 50-day moving average is $38.41. The firm has a market capitalization of $32.00 billion, a PE ratio of 27.90 and a beta of 0.03. Newmont Goldcorp has a 12 month low of $29.06 and a 12 month high of $40.33. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.38 and a current ratio of 1.83.
Newmont Goldcorp (NYSE:NEM) last released its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.12 EPS for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $2.29 billion. During the same quarter last year, the firm posted $0.26 EPS. The company’s revenue was up 35.8% compared to the same quarter last year. As a group, analysts predict that Newmont Goldcorp will post 1.2 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Wednesday, September 11th. Newmont Goldcorp’s payout ratio is currently 41.48%.
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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