Analysts expect that Newmont Mining Corp (NYSE:NEM) will announce earnings of $0.31 per share for the current quarter, according to Zacks. Three analysts have provided estimates for Newmont Mining’s earnings. The highest EPS estimate is $0.37 and the lowest is $0.27. Newmont Mining posted earnings per share of $0.35 during the same quarter last year, which would indicate a negative year over year growth rate of 11.4%. The firm is scheduled to report its next earnings results on Thursday, October 25th.
According to Zacks, analysts expect that Newmont Mining will report full-year earnings of $1.31 per share for the current financial year, with EPS estimates ranging from $1.19 to $1.50. For the next fiscal year, analysts expect that the business will post earnings of $1.51 per share, with EPS estimates ranging from $1.04 to $1.91. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Newmont Mining.
Newmont Mining (NYSE:NEM) last announced its earnings results on Thursday, July 26th. The basic materials company reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.02. Newmont Mining had a net margin of 2.23% and a return on equity of 6.17%. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the firm posted $0.46 earnings per share. The company’s revenue was down 11.4% on a year-over-year basis.
A number of equities research analysts recently weighed in on NEM shares. Canaccord Genuity set a $40.00 price target on shares of Newmont Mining and gave the stock a “hold” rating in a research note on Tuesday, July 24th. Morgan Stanley raised shares of Newmont Mining from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, June 12th. ValuEngine raised shares of Newmont Mining from a “hold” rating to a “buy” rating in a research note on Friday, June 29th. Finally, TheStreet raised shares of Newmont Mining from a “c+” rating to a “b” rating in a research note on Thursday, April 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $43.18.
Shares of NEM traded down $0.11 on Friday, reaching $35.60. 3,536,837 shares of the company’s stock were exchanged, compared to its average volume of 4,513,210. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.60 and a quick ratio of 3.95. The company has a market cap of $19.05 billion, a price-to-earnings ratio of 24.38 and a beta of 0.21. Newmont Mining has a 12 month low of $34.20 and a 12 month high of $42.04.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 27th. Shareholders of record on Thursday, September 13th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Wednesday, September 12th. Newmont Mining’s payout ratio is presently 38.36%.
In other news, EVP Elaine J. Dorward-King sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $36.45, for a total value of $109,350.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Thomas Ronald Palmer sold 1,250 shares of the company’s stock in a transaction that occurred on Friday, June 1st. The shares were sold at an average price of $38.88, for a total transaction of $48,600.00. The disclosure for this sale can be found here. Insiders sold 28,750 shares of company stock valued at $1,082,190 in the last ninety days. Insiders own 0.36% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Mount Yale Investment Advisors LLC acquired a new stake in Newmont Mining during the 1st quarter worth approximately $115,000. Private Capital Group LLC increased its stake in shares of Newmont Mining by 177.0% in the 1st quarter. Private Capital Group LLC now owns 3,028 shares of the basic materials company’s stock valued at $118,000 after acquiring an additional 1,935 shares in the last quarter. Signaturefd LLC bought a new stake in Newmont Mining during the 1st quarter valued at $152,000. Stephens Inc. AR bought a new stake in Newmont Mining during the 1st quarter valued at $219,000. Finally, Gables Capital Management Inc. bought a new stake in Newmont Mining during the 1st quarter valued at $227,000. Institutional investors and hedge funds own 81.92% of the company’s stock.
About Newmont Mining
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 February 22, 2018, the company had proven and probable gold reserves of 68.5 million ounces and an aggregate land position of approximately 23,000 square miles.
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