Brokerages Expect Newmont Mining Corp (NEM) Will Announce Earnings of $0.31 Per Share

Wall Street brokerages expect Newmont Mining Corp (NYSE:NEM) to report earnings of $0.31 per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Newmont Mining’s earnings, with the lowest EPS estimate coming in at $0.27 and the highest estimate coming in at $0.37. Newmont Mining posted earnings of $0.35 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 11.4%. The firm is scheduled to announce its next quarterly earnings results on Thursday, October 25th.

On average, analysts expect that Newmont Mining will report full-year earnings of $1.31 per share for the current financial year, with EPS estimates ranging from $1.19 to $1.50. For the next financial year, analysts forecast that the company will report earnings of $1.51 per share, with EPS estimates ranging from $1.04 to $1.91. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Newmont Mining.

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



A number of research firms have issued reports on NEM. ValuEngine downgraded Newmont Mining from a “buy” rating to a “hold” rating in a research note on Monday, July 30th. Canaccord Genuity set a $40.00 price target on Newmont Mining and gave the company a “hold” rating in a research note on Tuesday, July 24th. Morgan Stanley upgraded Newmont Mining from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, June 12th. Finally, TheStreet upgraded Newmont Mining from a “c+” rating to a “b” rating in a research note on Thursday, April 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $43.18.

In other news, insider Gary J. Goldberg sold 4,000 shares of Newmont Mining stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $38.88, for a total transaction of $155,520.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Stephen P. Gottesfeld sold 3,500 shares of Newmont Mining stock in a transaction dated Friday, June 1st. The shares were sold at an average price of $38.58, for a total value of $135,030.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,750 shares of company stock worth $1,082,190. Insiders own 0.36% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. AGF Investments Inc. lifted its position in shares of Newmont Mining by 2.5% during the 2nd quarter. AGF Investments Inc. now owns 166,100 shares of the basic materials company’s stock valued at $6,264,000 after buying an additional 4,100 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its position in shares of Newmont Mining by 13.9% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 1,110,190 shares of the basic materials company’s stock valued at $41,865,000 after buying an additional 135,612 shares in the last quarter. Richard Bernstein Advisors LLC lifted its position in shares of Newmont Mining by 24.3% during the 2nd quarter. Richard Bernstein Advisors LLC now owns 113,280 shares of the basic materials company’s stock valued at $4,272,000 after buying an additional 22,175 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Newmont Mining by 57.3% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 35,385 shares of the basic materials company’s stock valued at $1,334,000 after buying an additional 12,890 shares in the last quarter. Finally, Meadow Creek Investment Management LLC lifted its position in shares of Newmont Mining by 98.2% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 219,072 shares of the basic materials company’s stock valued at $8,261,000 after buying an additional 108,556 shares in the last quarter. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:NEM traded down $0.11 during trading hours on Friday, hitting $35.60. The stock had a trading volume of 3,536,837 shares, compared to its average volume of 4,513,210. Newmont Mining has a 1-year low of $34.20 and a 1-year high of $42.04. The firm has a market capitalization of $19.05 billion, a P/E ratio of 24.38 and a beta of 0.21. The company has a current ratio of 4.60, a quick ratio of 3.95 and a debt-to-equity ratio of 0.35.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 27th. Stockholders of record on Thursday, September 13th will be given a dividend of $0.14 per share. The ex-dividend date is Wednesday, September 12th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.57%. Newmont Mining’s 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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