Brokerages Anticipate Newmont Mining Corp (NEM) Will Post Earnings of $0.22 Per Share

Equities analysts expect Newmont Mining Corp (NYSE:NEM) to announce earnings of $0.22 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Newmont Mining’s earnings. The highest EPS estimate is $0.27 and the lowest is $0.12. Newmont Mining reported earnings of $0.35 per share in the same quarter last year, which suggests a negative year over year growth rate of 37.1%. The company is expected to issue its next earnings report before the market opens on Thursday, October 25th.

On average, analysts expect that Newmont Mining will report full year earnings of $1.14 per share for the current fiscal year, with EPS estimates ranging from $0.97 to $1.36. For the next fiscal year, analysts anticipate that the company will report earnings of $1.33 per share, with EPS estimates ranging from $1.04 to $1.87. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Newmont Mining.

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

A number of brokerages have weighed in on NEM. Barclays began coverage on shares of Newmont Mining in a research report on Wednesday, October 10th. They issued an “overweight” rating and a $34.00 price objective for the company. Jefferies Financial Group reiterated a “hold” rating and issued a $33.00 price objective on shares of Newmont Mining in a research report on Monday, October 8th. Zacks Investment Research downgraded shares of Newmont Mining from a “hold” rating to a “strong sell” rating in a research report on Monday, October 8th. TheStreet downgraded shares of Newmont Mining from a “b-” rating to a “c” rating in a research report on Thursday, October 4th. Finally, Deutsche Bank set a $37.00 target price on shares of Newmont Mining and gave the stock a “hold” rating in a research note on Tuesday, October 2nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $40.86.

In related news, insider Gary J. Goldberg sold 4,000 shares of the company’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $30.20, for a total transaction of $120,800.00. Following the completion of the sale, the insider now owns 138,533 shares of the company’s stock, valued at approximately $4,183,696.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Elaine J. Dorward-King sold 3,000 shares of the company’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $30.20, for a total transaction of $90,600.00. Following the sale, the executive vice president now directly owns 102,831 shares of the company’s stock, valued at approximately $3,105,496.20. The disclosure for this sale can be found here. Insiders have sold 20,500 shares of company stock valued at $675,763 in the last three months. Corporate insiders own 0.36% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. First Hawaiian Bank purchased a new stake in shares of Newmont Mining in the 3rd quarter valued at approximately $434,000. First Manhattan Co. grew its stake in shares of Newmont Mining by 10.1% in the 3rd quarter. First Manhattan Co. now owns 165,123 shares of the basic materials company’s stock valued at $4,986,000 after buying an additional 15,136 shares during the period. PGGM Investments grew its stake in shares of Newmont Mining by 55.5% in the 3rd quarter. PGGM Investments now owns 943,360 shares of the basic materials company’s stock valued at $28,489,000 after buying an additional 336,860 shares during the period. Hexavest Inc. grew its stake in shares of Newmont Mining by 11.5% in the 3rd quarter. Hexavest Inc. now owns 385,206 shares of the basic materials company’s stock valued at $11,633,000 after buying an additional 39,778 shares during the period. Finally, DNB Asset Management AS grew its stake in shares of Newmont Mining by 72.7% in the 3rd quarter. DNB Asset Management AS now owns 128,527 shares of the basic materials company’s stock valued at $3,882,000 after buying an additional 54,100 shares during the period. 82.66% of the stock is owned by institutional investors.

Shares of Newmont Mining stock traded down $0.19 during trading hours on Friday, reaching $32.10. The stock had a trading volume of 563,844 shares, compared to its average volume of 5,149,904. The company has a market cap of $16.11 billion, a P/E ratio of 21.92 and a beta of 0.24. Newmont Mining has a twelve month low of $29.16 and a twelve month high of $42.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.95 and a current ratio of 4.60.

The business also recently announced a quarterly dividend, which was paid on Thursday, September 27th. Stockholders of record on Thursday, September 13th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, September 12th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.74%. Newmont Mining’s dividend payout ratio is currently 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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