Equities analysts expect that Newmont Mining Corp (NYSE:NEM) will report $1.84 billion in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Newmont Mining’s earnings, with estimates ranging from $1.77 billion to $1.90 billion. Newmont Mining reported sales of $1.88 billion in the same quarter last year, which would suggest a negative year over year growth rate of 2.1%. The business is scheduled to announce its next quarterly earnings results before the market opens on Thursday, July 26th.
According to Zacks, analysts expect that Newmont Mining will report full-year sales of $7.50 billion for the current fiscal year, with estimates ranging from $7.35 billion to $7.84 billion. For the next financial year, analysts anticipate that the firm will report sales of $7.68 billion per share, with estimates ranging from $7.37 billion to $8.33 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Newmont Mining.
Newmont Mining (NYSE:NEM) last issued its quarterly earnings results on Thursday, April 26th. The basic materials company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. Newmont Mining had a net margin of 0.64% and a return on equity of 7.01%. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the previous year, the firm posted $0.09 EPS. The company’s revenue for the quarter was up 7.5% on a year-over-year basis.
Several equities research analysts have commented on NEM shares. Morgan Stanley raised shares of Newmont Mining from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, June 12th. Royal Bank of Canada cut shares of Newmont Mining from a “sector perform” rating to an “underperform” rating and boosted their price target for the stock from $37.71 to $43.00 in a research report on Monday, March 12th. They noted that the move was a valuation call. TheStreet cut shares of Newmont Mining from a “b-” rating to a “c+” rating in a research report on Monday, March 12th. Deutsche Bank boosted their price target on shares of Newmont Mining from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Wednesday, April 11th. Finally, BMO Capital Markets set a $46.00 price target on shares of Newmont Mining and gave the stock a “buy” rating in a research report on Wednesday, March 28th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $42.92.
In other news, COO Thomas Ronald Palmer sold 1,250 shares of the company’s stock in a transaction dated Friday, June 1st. The shares were 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 SEC, which can be accessed through this hyperlink. Also, EVP William N. Macgowan sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 1st. The shares were sold at an average price of $38.89, for a total transaction of $194,450.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,750 shares of company stock worth $611,360. 0.36% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the company. Brown Advisory Inc. acquired a new position in Newmont Mining in the 4th quarter valued at about $228,000. Amalgamated Bank grew its stake in Newmont Mining by 9.7% in the 4th quarter. Amalgamated Bank now owns 67,240 shares of the basic materials company’s stock valued at $2,523,000 after buying an additional 5,968 shares during the last quarter. Geode Capital Management LLC grew its stake in Newmont Mining by 6.9% in the 4th quarter. Geode Capital Management LLC now owns 6,378,102 shares of the basic materials company’s stock valued at $238,856,000 after buying an additional 410,435 shares during the last quarter. WINTON GROUP Ltd grew its stake in Newmont Mining by 18.8% in the 4th quarter. WINTON GROUP Ltd now owns 32,624 shares of the basic materials company’s stock valued at $1,224,000 after buying an additional 5,165 shares during the last quarter. Finally, Lombard Odier Asset Management Switzerland SA acquired a new position in Newmont Mining in the 4th quarter valued at about $2,172,000. 82.29% of the stock is currently owned by institutional investors.
Shares of NYSE:NEM opened at $37.55 on Tuesday. The company has a current ratio of 4.18, a quick ratio of 3.62 and a debt-to-equity ratio of 0.35. Newmont Mining has a one year low of $31.42 and a one year high of $42.04. The stock has a market cap of $20.12 billion, a price-to-earnings ratio of 25.66 and a beta of 0.22.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 21st. Stockholders of record on Thursday, June 7th were issued a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, June 6th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.49%. Newmont Mining’s payout ratio is 38.36%.
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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