Wall Street analysts predict that Newmont Goldcorp Corp (NYSE:NEM) will report $0.27 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Newmont Goldcorp’s earnings. The lowest EPS estimate is $0.23 and the highest is $0.30. Newmont Goldcorp posted earnings of $0.26 per share in the same quarter last year, which would suggest a positive year over year growth rate of 3.8%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Thursday, July 25th.
According to Zacks, analysts expect that Newmont Goldcorp will report full year earnings of $1.41 per share for the current fiscal year, with EPS estimates ranging from $1.18 to $1.57. For the next financial year, analysts forecast that the company will report earnings of $1.73 per share, with EPS estimates ranging from $1.38 to $2.02. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Newmont Goldcorp.
Newmont Goldcorp (NYSE:NEM) last announced its earnings results on Thursday, April 25th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.07. Newmont Goldcorp had a return on equity of 6.13% and a net margin of 3.26%. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same period in the previous year, the company earned $0.35 earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year.
A number of equities analysts recently commented on NEM shares. Desjardins reiterated a “buy” rating and issued a $43.00 price target on shares of Newmont Goldcorp in a research note on Thursday, April 4th. Raymond James set a $47.00 price target on Newmont Goldcorp and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. TD Securities upgraded Newmont Goldcorp from a “hold” rating to a “buy” rating and lifted their price target for the stock from $38.00 to $46.00 in a research note on Monday, April 22nd. B. Riley reiterated a “neutral” rating and issued a $38.40 price target on shares of Newmont Goldcorp in a research note on Tuesday, March 19th. Finally, Barclays reiterated a “buy” rating and issued a $39.00 price target on shares of Newmont Goldcorp in a research note on Thursday, March 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $41.29.
Shares of NYSE NEM traded up $0.39 during midday trading on Friday, reaching $38.47. 9,042,727 shares of the company’s stock were exchanged, compared to its average volume of 11,724,135. Newmont Goldcorp has a 52-week low of $29.06 and a 52-week high of $38.74. The company has a market capitalization of $31.53 billion, a PE ratio of 28.50 and a beta of -0.08. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.97 and a quick ratio of 2.62. The stock’s fifty day moving average price is $33.92.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were paid a $0.14 dividend. The ex-dividend date was Wednesday, June 5th. This represents a $0.56 dividend on an annualized basis and a yield of 1.46%. Newmont Goldcorp’s dividend payout ratio (DPR) is 41.48%.
In other Newmont Goldcorp news, insider Thomas Ronald Palmer sold 1,250 shares of Newmont Goldcorp stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $35.85, for a total value of $44,812.50. Following the completion of the transaction, the insider now directly owns 276,573 shares in the company, valued at $9,915,142.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Nancy Lipson sold 5,055 shares of Newmont Goldcorp stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 32,880 shares of the company’s stock, valued at $1,234,644. The disclosure for this sale can be found here. Insiders sold 54,415 shares of company stock valued at $1,856,118 over the last quarter. Insiders own 0.44% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc grew its stake in shares of Newmont Goldcorp by 1.1% during the 3rd quarter. Vanguard Group Inc now owns 57,312,640 shares of the basic materials company’s stock valued at $1,730,842,000 after purchasing an additional 620,141 shares during the period. BB&T Securities LLC grew its stake in shares of Newmont Goldcorp by 77.9% during the 4th quarter. BB&T Securities LLC now owns 15,116 shares of the basic materials company’s stock valued at $524,000 after purchasing an additional 6,621 shares during the period. Jennison Associates LLC grew its stake in shares of Newmont Goldcorp by 5.0% during the 4th quarter. Jennison Associates LLC now owns 593,014 shares of the basic materials company’s stock valued at $20,548,000 after purchasing an additional 28,351 shares during the period. Oregon Public Employees Retirement Fund grew its stake in shares of Newmont Goldcorp by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 138,780 shares of the basic materials company’s stock valued at $4,809,000 after purchasing an additional 771 shares during the period. Finally, Piedmont Investment Advisors Inc. bought a new stake in shares of Newmont Goldcorp during the 4th quarter valued at about $274,000. Institutional investors own 60.72% of the company’s stock.
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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