Brokerages Anticipate Newmont Goldcorp Corp (NYSE:NEM) Will Post Earnings of $0.24 Per Share

Equities research analysts predict that Newmont Goldcorp Corp (NYSE:NEM) will announce earnings per share of $0.24 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Newmont Goldcorp’s earnings. The highest EPS estimate is $0.28 and the lowest is $0.20. Newmont Goldcorp reported earnings of $0.26 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 7.7%. The company is expected to report its next earnings results before the market opens on Thursday, July 25th.

On average, analysts expect that Newmont Goldcorp will report full year earnings of $1.40 per share for the current financial year, with EPS estimates ranging from $1.17 to $1.57. For the next year, analysts expect that the company will report earnings of $1.80 per share, with EPS estimates ranging from $1.29 to $2.11. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover Newmont Goldcorp.

Newmont Goldcorp (NYSE:NEM) last posted its earnings results on Thursday, April 25th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.07. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Newmont Goldcorp had a net margin of 3.26% and a return on equity of 6.13%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 EPS.

Several research firms have issued reports on NEM. BMO Capital Markets set a $208.00 target price on shares of Jazz Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, July 3rd. TD Securities lowered their target price on shares of Northern Dynasty Minerals from C$1.30 to C$0.90 and set a “hold” rating on the stock in a research note on Tuesday, June 25th. Zacks Investment Research cut shares of Hess Midstream Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, May 14th. Citigroup cut shares of Barrick Gold to a “neutral” rating in a research note on Thursday, May 23rd. Finally, Desjardins restated a “buy” rating and set a $43.00 target price on shares of Newmont Goldcorp in a research note on Thursday, April 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Newmont Goldcorp has an average rating of “Buy” and an average price target of $41.56.

NEM traded down $0.41 during midday trading on Tuesday, hitting $39.29. 7,218,643 shares of the company traded hands, compared to its average volume of 7,659,449. The company has a quick ratio of 2.62, a current ratio of 2.97 and a debt-to-equity ratio of 0.32. The firm has a market cap of $32.20 billion, a price-to-earnings ratio of 29.10 and a beta of 0.04. The firm has a 50-day moving average of $37.12. Newmont Goldcorp has a 52 week low of $29.06 and a 52 week high of $39.98.

In other news, CAO John Kitlen sold 750 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $35.00, for a total value of $26,250.00. Following the transaction, the chief accounting officer now owns 44,923 shares in the company, valued at approximately $1,572,305. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Thomas Ronald Palmer sold 1,250 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $30.90, for a total transaction of $38,625.00. Following the completion of the sale, the chief operating officer now directly owns 275,323 shares of the company’s stock, valued at $8,507,480.70. The disclosure for this sale can be found here. Insiders sold a total of 61,220 shares of company stock worth $2,141,220 in the last quarter. Company insiders own 0.44% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan purchased a new stake in Newmont Goldcorp in the 4th quarter worth approximately $1,157,000. Wealthstreet Investment Advisors LLC purchased a new stake in Newmont Goldcorp in the 1st quarter worth approximately $574,000. GAM Holding AG increased its holdings in Newmont Goldcorp by 40.7% in the 1st quarter. GAM Holding AG now owns 304,735 shares of the basic materials company’s stock worth $10,900,000 after acquiring an additional 88,226 shares in the last quarter. Majedie Asset Management Ltd purchased a new stake in Newmont Goldcorp in the 1st quarter worth approximately $62,825,000. Finally, Legacy Bridge LLC purchased a new stake in Newmont Goldcorp in the 1st quarter worth approximately $36,000. 60.73% of the stock is owned by institutional investors.

About Newmont Goldcorp

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 December 31, 2018, the company had proven and probable gold reserves of 65.4 million ounces and an aggregate land position of approximately 24,000 square miles.

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Earnings History and Estimates for Newmont Goldcorp (NYSE:NEM)

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