Newmont (NEM) Scheduled to Post Quarterly Earnings on Wednesday

Newmont (NYSE:NEM) will be announcing its earnings results after the market closes on Wednesday, October 23rd. Analysts expect the company to announce earnings of $0.78 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.10. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.13 billion. During the same period in the prior year, the company posted $0.33 EPS. The business’s revenue was up 64.1% compared to the same quarter last year. On average, analysts expect Newmont to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Newmont Price Performance

Shares of NYSE NEM opened at $57.59 on Tuesday. Newmont has a 1-year low of $29.42 and a 1-year high of $58.71. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. The business’s fifty day moving average price is $53.06 and its two-hundred day moving average price is $46.53. The firm has a market capitalization of $66.41 billion, a PE ratio of -21.57, a P/E/G ratio of 0.43 and a beta of 0.50.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 5th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.74%. The ex-dividend date was Thursday, September 5th. Newmont’s dividend payout ratio is presently -37.45%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. CIBC raised Newmont from a “neutral” rating to a “sector outperform” rating and raised their price target for the company from $46.00 to $61.00 in a report on Wednesday, July 10th. Jefferies Financial Group raised their price target on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a report on Friday, October 4th. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Bank of America raised their target price on Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Finally, Scotiabank raised Newmont from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $48.00 to $59.00 in a research note on Monday, August 19th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $53.46.

Insider Transactions at Newmont

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $49.51, for a total transaction of $990,200.00. Following the completion of the sale, the chief executive officer now directly owns 311,469 shares of the company’s stock, valued at $15,420,830.19. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $161,430.00. Following the transaction, the executive vice president now directly owns 91,596 shares of the company’s stock, valued at approximately $4,928,780.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the sale, the chief executive officer now directly owns 311,469 shares in the company, valued at $15,420,830.19. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,000 shares of company stock valued at $3,434,640 in the last three months. Corporate insiders own 0.06% of the company’s stock.

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.