Newmont (NYSE:NEM) Announces Earnings Results

Newmont (NYSE:NEM) posted its earnings results on Wednesday. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.05), Briefing.com reports. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the prior year, the company posted $0.36 EPS. Newmont’s revenue was up 84.7% on a year-over-year basis.

Newmont Price Performance

Shares of NYSE NEM traded down $0.83 during mid-day trading on Friday, hitting $48.42. 28,269,559 shares of the company’s stock traded hands, compared to its average volume of 10,362,343. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. Newmont has a 1 year low of $29.42 and a 1 year high of $58.72. The company’s 50-day moving average is $53.42 and its two-hundred day moving average is $46.76. The company has a market capitalization of $55.56 billion, a P/E ratio of -22.84, a PEG ratio of 0.49 and a beta of 0.50.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 annualized dividend and a yield of 2.07%. Newmont’s dividend payout ratio (DPR) is currently -47.17%.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $157,410.00. Following the transaction, the executive vice president now owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $157,410.00. Following the completion of the transaction, the executive vice president now directly owns 94,596 shares of the company’s stock, valued at approximately $4,963,452.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the completion of the sale, the chief executive officer now directly owns 291,469 shares in the company, valued at $15,293,378.43. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,000 shares of company stock valued at $3,434,640 over the last ninety days. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Jefferies Financial Group lifted their price objective on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, October 4th. UBS Group increased their target price on Newmont from $65.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Raymond James increased their price objective on shares of Newmont from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, BMO Capital Markets boosted their target price on shares of Newmont from $56.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and an average target price of $54.85.

Newmont Company Profile

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.