Newmont (NYSE:NEM) Posts Earnings Results, Beats Expectations By $0.29 EPS

Newmont (NYSE:NEM) released its earnings results on Thursday. The basic materials company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.11 by $0.29, Zacks reports. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion.

Newmont Stock Down 2.7 %

Shares of NYSE:NEM traded down $1.31 during trading on Friday, reaching $46.78. The stock had a trading volume of 6,351,462 shares, compared to its average volume of 9,116,329. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $53.25 billion, a P/E ratio of -30.72, a PEG ratio of 0.40 and a beta of 0.52. The firm’s 50-day simple moving average is $41.46 and its 200 day simple moving average is $46.47. Newmont has a one year low of $29.42 and a one year high of $58.72.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $128,670.00. Following the sale, the executive vice president now owns 79,596 shares in the company, valued at approximately $3,413,872.44. The trade was a 3.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $89,082.53. Following the completion of the transaction, the director now owns 49,993 shares in the company, valued at approximately $2,144,199.77. This trade represents a 3.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,154 shares of company stock valued at $1,166,843 over the last 90 days. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on NEM. Bernstein Bank increased their price target on shares of Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Raymond James dropped their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. The Goldman Sachs Group started coverage on Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 target price on the stock. Royal Bank of Canada upped their price target on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. Finally, UBS Group lowered Newmont from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $53.37.

Newmont Company Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.