Charles Schwab Investment Management Inc. reduced its position in shares of Newmont Goldcorp Corp (NYSE:NEM) by 3.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,584,822 shares of the basic materials company’s stock after selling 111,696 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.45% of Newmont Goldcorp worth $221,327,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Orion Portfolio Solutions LLC boosted its stake in Newmont Goldcorp by 191.3% during the 2nd quarter. Orion Portfolio Solutions LLC now owns 3,466 shares of the basic materials company’s stock valued at $214,000 after purchasing an additional 2,276 shares in the last quarter. Gamble Jones Investment Counsel bought a new position in Newmont Goldcorp during the 2nd quarter valued at $247,000. WealthPLAN Partners LLC lifted its position in shares of Newmont Goldcorp by 22.1% during the 2nd quarter. WealthPLAN Partners LLC now owns 7,251 shares of the basic materials company’s stock valued at $465,000 after acquiring an additional 1,313 shares during the last quarter. GQG Partners LLC acquired a new stake in shares of Newmont Goldcorp during the 2nd quarter valued at $262,033,000. Finally, Jackson Square Capital LLC lifted its position in shares of Newmont Goldcorp by 7.1% during the 2nd quarter. Jackson Square Capital LLC now owns 5,869 shares of the basic materials company’s stock valued at $362,000 after acquiring an additional 388 shares during the last quarter. 79.46% of the stock is owned by hedge funds and other institutional investors.

NEM has been the subject of a number of recent research reports. Deutsche Bank increased their price objective on Newmont Goldcorp from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Royal Bank of Canada reiterated a “hold” rating and set a $57.00 price objective on shares of Newmont Goldcorp in a research report on Tuesday, July 28th. Credit Suisse Group reiterated a “buy” rating and set a $72.00 price objective on shares of Newmont Goldcorp in a research report on Wednesday, July 29th. Fundamental Research increased their price objective on Newmont Goldcorp from $74.64 to $75.59 and gave the company a “buy” rating in a research report on Thursday, August 13th. Finally, B. Riley increased their price objective on Newmont Goldcorp from $96.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, May 19th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $72.33.

In other Newmont Goldcorp news, CFO Nancy Buese sold 11,250 shares of the stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $59.68, for a total transaction of $671,400.00. Following the transaction, the chief financial officer now directly owns 39,695 shares of the company’s stock, valued at $2,368,997.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas Ronald Palmer sold 5,150 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $69.20, for a total transaction of $356,380.00. Following the transaction, the chief executive officer now directly owns 268,297 shares in the company, valued at $18,566,152.40. The disclosure for this sale can be found here. Insiders have sold 64,958 shares of company stock worth $4,226,041 over the last three months. Company insiders own 0.28% of the company’s stock.

Shares of NYSE NEM traded up $0.45 during mid-day trading on Wednesday, reaching $68.00. The company had a trading volume of 160,324 shares, compared to its average volume of 8,686,127. Newmont Goldcorp Corp has a twelve month low of $33.00 and a twelve month high of $72.22. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.41 and a current ratio of 2.81. The stock has a market capitalization of $54.25 billion, a PE ratio of 14.10 and a beta of 0.36. The stock’s 50 day moving average is $66.65 and its 200-day moving average is $59.03.

Newmont Goldcorp (NYSE:NEM) last posted its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.02). Newmont Goldcorp had a return on equity of 5.70% and a net margin of 36.79%. The company had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.37 billion. On average, sell-side analysts anticipate that Newmont Goldcorp Corp will post 2.26 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Wednesday, September 9th. Newmont Goldcorp’s payout ratio is 75.76%.

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

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