Newmont (NYSE:NEM – Get Free Report) announced its earnings results on Wednesday. The basic materials company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.10, Briefing.com reports. Newmont had a positive return on equity of 8.65% and a negative net margin of 13.16%. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.13 billion. During the same period last year, the business posted $0.33 EPS. Newmont’s revenue for the quarter was up 64.1% on a year-over-year basis.
Newmont Stock Performance
Shares of NEM stock traded up $0.92 during midday trading on Friday, hitting $46.62. The company had a trading volume of 5,697,223 shares, compared to its average volume of 11,298,654. The company’s 50 day simple moving average is $43.33 and its 200 day simple moving average is $38.73. Newmont has a 52-week low of $29.42 and a 52-week high of $48.97. The stock has a market cap of $53.76 billion, a price-to-earnings ratio of -17.12, a PEG ratio of 0.38 and a beta of 0.47. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.15 and a quick ratio of 1.90.
Newmont Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 2.15%. Newmont’s dividend payout ratio is presently -37.45%.
Insider Buying and Selling at Newmont
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the company. UBS Group raised Newmont from a “neutral” rating to a “buy” rating and increased their price target for the company from $40.00 to $50.00 in a research report on Monday, June 17th. BNP Paribas raised Newmont to a “strong-buy” rating in a research report on Friday, June 21st. StockNews.com raised Newmont from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. National Bank Financial lowered Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research report on Tuesday, April 30th. Finally, Sanford C. Bernstein reduced their price target on Newmont from $46.00 to $45.00 and set a “market perform” rating on the stock in a research report on Thursday, May 16th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Newmont has a consensus rating of “Moderate Buy” and an average target price of $50.00.
Get Our Latest Stock Analysis on Newmont
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.
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