Newmont Mining (NEM) Issues Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Newmont Mining (NYSE:NEM) issued its quarterly earnings results on Thursday. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.02, Bloomberg Earnings reports. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.84 billion. Newmont Mining had a negative net margin of 1.33% and a positive return on equity of 6.52%. During the same quarter in the prior year, the company earned $0.09 EPS. The firm’s quarterly revenue was up 7.5% on a year-over-year basis.

Shares of NEM stock traded up $0.25 on Thursday, reaching $40.77. The company had a trading volume of 2,873,415 shares, compared to its average volume of 5,396,954. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.63 and a quick ratio of 3.14. The stock has a market cap of $21,899.14, a PE ratio of 27.92 and a beta of 0.25. Newmont Mining has a 12 month low of $31.42 and a 12 month high of $42.04.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 21st. Stockholders of record on Thursday, June 7th will be paid a $0.14 dividend. The ex-dividend date is Wednesday, June 6th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.37%. Newmont Mining’s dividend payout ratio (DPR) is presently 38.36%.

In other news, EVP E Randall Engel sold 5,700 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $40.23, for a total value of $229,311.00. Following the completion of the sale, the executive vice president now directly owns 239,700 shares of the company’s stock, valued at approximately $9,643,131. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Thomas Ronald Palmer sold 1,250 shares of the company’s stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $39.44, for a total value of $49,300.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,450 shares of company stock valued at $919,544. 0.36% of the stock is currently owned by company insiders.

A number of research analysts have issued reports on the stock. Deutsche Bank downgraded shares of Newmont Mining from a “buy” rating to a “hold” rating and cut their target price for the company from $42.00 to $40.00 in a research report on Tuesday, January 16th. Scotiabank set a $48.00 target price on shares of Newmont Mining and gave the company a “buy” rating in a research report on Monday, January 15th. Zacks Investment Research downgraded shares of Newmont Mining from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 19th. Bank of America upped their target price on shares of Newmont Mining from $46.00 to $49.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Finally, Royal Bank of Canada restated a “sell” rating and set a $44.00 target price on shares of Newmont Mining in a research report on Wednesday, April 4th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $42.93.

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.

Earnings History for Newmont Mining (NYSE:NEM)

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