Newmont (NYSE:NEM – Get Free Report) announced its quarterly earnings results on Wednesday. The basic materials company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.10, Briefing.com reports. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The firm had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.13 billion. During the same period in the previous year, the company earned $0.33 earnings per share. Newmont’s quarterly revenue was up 64.1% compared to the same quarter last year.
Newmont Trading Up 2.3 %
Shares of NEM stock traded up $1.03 during mid-day trading on Friday, reaching $46.73. The company’s stock had a trading volume of 8,371,515 shares, compared to its average volume of 7,299,322. The company’s 50 day simple moving average is $43.39 and its 200-day simple moving average is $38.78. Newmont has a 12-month low of $29.42 and a 12-month high of $48.97. The company has a quick ratio of 1.90, a current ratio of 2.11 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $53.89 billion, a PE ratio of -17.50, a price-to-earnings-growth ratio of 0.36 and a beta of 0.47.
Newmont Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 5th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Thursday, September 5th. Newmont’s dividend payout ratio is presently -37.45%.
Wall Street Analyst Weigh In
Check Out Our Latest Stock Analysis on NEM
Insider Activity
In other news, CEO Thomas Ronald Palmer sold 13,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $42.13, for a total value of $547,690.00. Following the transaction, the chief executive officer now owns 331,469 shares of the company’s stock, valued at approximately $13,964,788.97. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.06% of the company’s stock.
About Newmont
Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.
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