Newmont (NYSE:NEM) Releases Earnings Results

Newmont (NYSE:NEM) posted its earnings results on Thursday. The basic materials company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.29, Zacks reports. The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%.

Newmont Stock Down 5.9 %

Shares of NEM stock opened at $45.25 on Friday. The company has a market capitalization of $51.52 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 0.41 and a beta of 0.52. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The stock’s 50 day simple moving average is $41.56 and its 200 day simple moving average is $46.46. Newmont has a twelve month low of $29.42 and a twelve month high of $58.72.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s dividend payout ratio is 34.13%.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the sale, the director now owns 52,070 shares of the company’s stock, valued at $2,082,800. This trade represents a 3.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Harry M. Iv Conger purchased 9,498 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were acquired at an average price of $42.15 per share, with a total value of $400,340.70. Following the completion of the acquisition, the director now owns 14,498 shares of the company’s stock, valued at approximately $611,090.70. The trade was a 189.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders sold 28,154 shares of company stock worth $1,166,843. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NEM has been the subject of several recent research reports. Scotiabank decreased their price target on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. Bernstein Bank lifted their target price on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. The Goldman Sachs Group initiated coverage on shares of Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target for the company. Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Finally, Raymond James cut their price objective on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and an average price target of $53.37.

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.