WESPAC Advisors SoCal LLC Boosts Stake in Newmont Goldcorp Corp (NYSE:NEM)

WESPAC Advisors SoCal LLC grew its stake in shares of Newmont Goldcorp Corp (NYSE:NEM) by 2.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 113,130 shares of the basic materials company’s stock after buying an additional 3,165 shares during the quarter. Newmont Goldcorp accounts for 3.4% of WESPAC Advisors SoCal LLC’s investment portfolio, making the stock its 11th biggest position. WESPAC Advisors SoCal LLC’s holdings in Newmont Goldcorp were worth $7,107,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Contravisory Investment Management Inc. purchased a new stake in shares of Newmont Goldcorp during the 3rd quarter valued at $26,000. Jaffetilchin Investment Partners LLC bought a new position in shares of Newmont Goldcorp during the 2nd quarter valued at $27,000. Rosenberg Matthew Hamilton bought a new position in shares of Newmont Goldcorp during the 2nd quarter valued at $27,000. Providence Capital Advisors LLC bought a new position in shares of Newmont Goldcorp during the 2nd quarter valued at $28,000. Finally, Trust Co. of Vermont grew its holdings in shares of Newmont Goldcorp by 211.0% during the 2nd quarter. Trust Co. of Vermont now owns 737 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Shares of NEM traded down $0.07 during trading hours on Monday, reaching $60.40. 155,814 shares of the company traded hands, compared to its average volume of 8,209,789. The company’s fifty day moving average price is $63.63 and its two-hundred day moving average price is $62.24. The company has a market capitalization of $48.56 billion, a price-to-earnings ratio of 12.57 and a beta of 0.36. The company has a quick ratio of 2.41, a current ratio of 2.81 and a debt-to-equity ratio of 0.26. Newmont Goldcorp Corp has a 12 month low of $33.00 and a 12 month high of $72.22.

Newmont Goldcorp (NYSE:NEM) last announced its earnings results on Thursday, July 30th. The basic materials company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.37 billion. Newmont Goldcorp had a net margin of 36.79% and a return on equity of 5.70%. On average, analysts expect that Newmont Goldcorp Corp will post 2.5 EPS for the current year.

Several equities analysts recently commented on the stock. Citigroup reduced their target price on shares of Newmont Goldcorp from $74.00 to $70.00 in a report on Monday, June 29th. Fundamental Research increased their target price on shares of Newmont Goldcorp from $74.64 to $75.59 and gave the company a “buy” rating in a report on Thursday, August 13th. Barclays raised their price target on shares of Newmont Goldcorp from $58.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, July 20th. UBS Group raised their price target on shares of Newmont Goldcorp from $58.00 to $71.00 and gave the stock a “neutral” rating in a report on Monday, August 24th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $57.00 price target on shares of Newmont Goldcorp in a report on Tuesday, July 28th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $72.69.

In related news, EVP Dean Gehring sold 1,528 shares of Newmont Goldcorp stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $68.78, for a total transaction of $105,095.84. Following the completion of the transaction, the executive vice president now directly owns 19,862 shares of the company’s stock, valued at approximately $1,366,108.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,150 shares of Newmont Goldcorp stock in a transaction dated Monday, August 3rd. The shares were 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 of the company’s stock, valued at $18,566,152.40. The disclosure for this sale can be found here. Insiders have sold a total of 41,291 shares of company stock worth $2,706,734 in the last ninety days. Insiders own 0.28% of the company’s stock.

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

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