Zacks: Analysts Expect Newmont Mining Corp (NEM) to Post $0.23 Earnings Per Share

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Wall Street analysts predict that Newmont Mining Corp (NYSE:NEM) will announce $0.23 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have provided estimates for Newmont Mining’s earnings, with estimates ranging from $0.14 to $0.27. Newmont Mining reported earnings of $0.40 per share in the same quarter last year, which would indicate a negative year over year growth rate of 42.5%. The business is expected to issue its next quarterly earnings report before the market opens on Thursday, February 21st.

On average, analysts expect that Newmont Mining will report full year earnings of $1.20 per share for the current financial year, with EPS estimates ranging from $1.19 to $1.21. For the next financial year, analysts expect that the business will report earnings of $1.21 per share, with EPS estimates ranging from $0.85 to $1.45. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that follow Newmont Mining.

A number of research analysts recently issued reports on the company. B. Riley restated a “neutral” rating on shares of Newmont Mining in a research note on Tuesday, January 15th. TD Securities increased their price objective on Newmont Mining from $37.00 to $38.00 and gave the stock a “hold” rating in a research report on Thursday, November 1st. CIBC cut Newmont Mining from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $48.00 to $41.00 in a research report on Tuesday, January 15th. ValuEngine raised Newmont Mining from a “hold” rating to a “buy” rating in a research report on Friday, November 16th. Finally, Royal Bank of Canada set a $41.00 price objective on Newmont Mining and gave the stock a “sell” rating in a research report on Wednesday, December 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $41.53.

NYSE:NEM opened at $33.84 on Wednesday. The company has a market cap of $18.03 billion, a P/E ratio of 23.18 and a beta of 0.05. The company has a current ratio of 4.70, a quick ratio of 4.02 and a debt-to-equity ratio of 0.36. Newmont Mining has a 52-week low of $29.06 and a 52-week high of $41.98.

In other news, EVP Scott P. Lawson sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $34.27, for a total value of $171,350.00. Following the completion of the sale, the executive vice president now directly owns 79,091 shares of the company’s stock, valued at approximately $2,710,448.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas Ronald Palmer sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $32.88, for a total value of $41,100.00. Following the completion of the sale, the insider now directly owns 129,110 shares of the company’s stock, valued at $4,245,136.80. The disclosure for this sale can be found here. Insiders have sold a total of 32,750 shares of company stock valued at $1,113,450 over the last ninety days. 0.36% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of NEM. BlackRock Inc. lifted its holdings in shares of Newmont Mining by 9.2% in the 4th quarter. BlackRock Inc. now owns 79,175,130 shares of the basic materials company’s stock valued at $2,743,419,000 after buying an additional 6,689,349 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in shares of Newmont Mining by 3,384.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,808,727 shares of the basic materials company’s stock valued at $139,000 after buying an additional 4,670,718 shares during the period. Flossbach Von Storch AG lifted its holdings in shares of Newmont Mining by 32.8% in the 3rd quarter. Flossbach Von Storch AG now owns 13,529,462 shares of the basic materials company’s stock valued at $408,590,000 after buying an additional 3,339,775 shares during the period. FMR LLC lifted its holdings in shares of Newmont Mining by 54.1% in the 2nd quarter. FMR LLC now owns 7,404,467 shares of the basic materials company’s stock valued at $279,222,000 after buying an additional 2,598,995 shares during the period. Finally, First Eagle Investment Management LLC lifted its holdings in shares of Newmont Mining by 22.5% in the 3rd quarter. First Eagle Investment Management LLC now owns 11,705,007 shares of the basic materials company’s stock valued at $353,491,000 after buying an additional 2,153,531 shares during the period. 84.62% of the stock is owned by institutional investors and hedge funds.

Newmont Mining 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 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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