Newmont Mining Corp (NEM) Expected to Post Earnings of $0.33 Per Share

Brokerages forecast that Newmont Mining Corp (NYSE:NEM) will report earnings of $0.33 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Newmont Mining’s earnings. The highest EPS estimate is $0.44 and the lowest is $0.27. Newmont Mining posted earnings per share of $0.35 in the same quarter last year, which suggests a negative year over year growth rate of 5.7%. The business is expected to announce its next earnings results on Thursday, October 25th.

According to Zacks, analysts expect that Newmont Mining will report full year earnings of $1.32 per share for the current financial year, with EPS estimates ranging from $1.19 to $1.48. For the next year, analysts anticipate that the firm will post earnings of $1.51 per share, with EPS estimates ranging from $1.04 to $1.83. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Newmont Mining.

Newmont Mining (NYSE:NEM) last issued its quarterly earnings results on Thursday, July 26th. The basic materials company reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.02. Newmont Mining had a return on equity of 6.17% and a net margin of 2.23%. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the business earned $0.46 EPS. Newmont Mining’s revenue was down 11.4% on a year-over-year basis.

Several equities research analysts have weighed in on NEM shares. Morgan Stanley upgraded Newmont Mining from an “equal weight” rating to an “overweight” rating in a report on Tuesday, June 12th. TheStreet upgraded Newmont Mining from a “c+” rating to a “b” rating in a report on Thursday, April 26th. Deutsche Bank upped their price target on Newmont Mining from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Wednesday, April 11th. Canaccord Genuity set a $40.00 price target on Newmont Mining and gave the stock a “hold” rating in a report on Tuesday, July 24th. Finally, ValuEngine raised Newmont Mining from a “hold” rating to a “buy” rating in a research report on Friday, June 29th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. Newmont Mining currently has an average rating of “Hold” and an average target price of $43.18.

Newmont Mining traded up $0.23, hitting $36.46, during trading hours on Friday, according to MarketBeat.com. 5,108,397 shares of the company were exchanged, compared to its average volume of 4,252,643. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.60 and a quick ratio of 3.95. Newmont Mining has a 52-week low of $34.20 and a 52-week high of $42.04. The company has a market cap of $19.33 billion, a price-to-earnings ratio of 24.97 and a beta of 0.21.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 27th. Investors of record on Thursday, September 13th will be given a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, September 12th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.54%. Newmont Mining’s dividend payout ratio (DPR) is presently 38.36%.

In related news, COO Thomas Ronald Palmer sold 1,250 shares of the company’s stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $38.88, for a total value of $48,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Stephen P. Gottesfeld sold 3,500 shares of the stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $38.58, for a total value of $135,030.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,750 shares of company stock valued at $1,082,190. Insiders own 0.36% of the company’s stock.

A number of institutional investors have recently bought and sold shares of NEM. Mount Yale Investment Advisors LLC purchased a new position in shares of Newmont Mining during the 1st quarter worth approximately $115,000. Private Capital Group LLC raised its stake in shares of Newmont Mining by 177.0% during the 1st quarter. Private Capital Group LLC now owns 3,028 shares of the basic materials company’s stock worth $118,000 after buying an additional 1,935 shares in the last quarter. Signaturefd LLC purchased a new position in shares of Newmont Mining during the 1st quarter worth approximately $152,000. Stephens Inc. AR purchased a new position in shares of Newmont Mining during the 1st quarter worth approximately $219,000. Finally, Gables Capital Management Inc. purchased a new position in shares of Newmont Mining during the 1st quarter worth approximately $227,000. 82.03% of the stock is owned by institutional investors.

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.

Further Reading: Price to Earnings Ratio (PE) Basics

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