Newmont Co. (NYSE:NEM – Get Rating) – Jefferies Financial Group reduced their FY2022 earnings per share (EPS) estimates for Newmont in a report released on Tuesday, June 7th. Jefferies Financial Group analyst C. Lafemina now anticipates that the basic materials company will post earnings of $3.91 per share for the year, down from their previous forecast of $4.10. Jefferies Financial Group currently has a “Hold” rating and a $72.00 price target on the stock.
A number of other research firms also recently weighed in on NEM. National Bankshares reduced their target price on shares of Newmont from $119.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Tuesday, April 26th. Bank of America raised their target price on shares of Newmont from $70.00 to $75.00 in a report on Monday, February 28th. TD Securities decreased their target price on Newmont from $82.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, April 25th. Raymond James decreased their price objective on Newmont from $92.00 to $88.00 and set an “outperform” rating for the company in a report on Monday, April 25th. Finally, Sanford C. Bernstein downgraded Newmont from an “outperform” rating to a “market perform” rating and set a $57.00 price objective for the company. in a report on Monday, April 25th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $74.69.
Newmont (NYSE:NEM – Get Rating) last posted its quarterly earnings data on Friday, April 22nd. The basic materials company reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.02). Newmont had a return on equity of 10.24% and a net margin of 8.53%. The firm had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same quarter last year, the company earned $0.74 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year.
A number of large investors have recently modified their holdings of the business. Vectors Research Management LLC purchased a new position in shares of Newmont in the 4th quarter valued at approximately $25,000. Rational Advisors LLC boosted its position in shares of Newmont by 133.7% in the fourth quarter. Rational Advisors LLC now owns 416 shares of the basic materials company’s stock worth $26,000 after buying an additional 238 shares during the period. Avondale Wealth Management acquired a new position in shares of Newmont in the fourth quarter worth about $28,000. Lloyd Advisory Services LLC. acquired a new stake in Newmont during the first quarter valued at approximately $28,000. Finally, Central Bank & Trust Co. bought a new position in shares of Newmont during the first quarter valued at approximately $29,000. Institutional investors own 78.41% of the company’s stock.
In related news, EVP Nancy Lipson sold 19,866 shares of Newmont stock in a transaction dated Wednesday, March 30th. The stock was sold at an average price of $79.00, for a total transaction of $1,569,414.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dean Gehring sold 4,477 shares of Newmont stock in a transaction dated Wednesday, March 23rd. The stock was sold at an average price of $76.98, for a total value of $344,639.46. The disclosure for this sale can be found here. Insiders have sold 66,343 shares of company stock worth $4,914,333 in the last 90 days. Insiders own 0.11% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 16th. Stockholders of record on Thursday, June 2nd will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Wednesday, June 1st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.22%. Newmont’s payout ratio is 167.94%.
About Newmont (Get Rating)
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, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.
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