Newmont (NYSE:NEM) Posts Earnings Results, Misses Estimates By $0.05 EPS

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

Newmont Price Performance

NYSE:NEM traded down $0.83 during trading hours on Friday, hitting $48.42. The stock had a trading volume of 28,269,559 shares, compared to its average volume of 10,362,343. The company has a 50 day simple moving average of $53.42 and a two-hundred day simple moving average of $46.76. The firm has a market capitalization of $55.56 billion, a price-to-earnings ratio of -22.84, a P/E/G ratio of 0.49 and a beta of 0.50. 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 one year low of $29.42 and a one year high of $58.72.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is presently -47.17%.

Wall Street Analyst Weigh In

A number of analysts recently commented on NEM shares. CIBC raised Newmont from a “neutral” rating to a “sector outperform” rating and increased their price target for the company from $46.00 to $61.00 in a research report on Wednesday, July 10th. Jefferies Financial Group lifted their target price on Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Raymond James lifted their price objective on shares of Newmont from $65.00 to $66.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Argus raised shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research report on Thursday, August 29th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $54.85.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $161,430.00. Following the completion of the transaction, the executive vice president now directly owns 91,596 shares in the company, valued at $4,928,780.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $161,430.00. Following the completion of the sale, the executive vice president now directly owns 91,596 shares in the company, valued at $4,928,780.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 291,469 shares in the company, valued at $15,293,378.43. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,000 shares of company stock valued at $3,434,640. 0.06% of the stock is currently owned by company insiders.

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.