Newmont Co. (NYSE:NEM) Expected to Post Earnings of $0.76 Per Share

Wall Street brokerages expect that Newmont Co. (NYSE:NEM – Get Rating) will post earnings of $0.76 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Newmont’s earnings. The highest EPS estimate is $0.85 and the lowest is $0.62. Newmont reported earnings of $0.83 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 8.4%. The company is expected to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Newmont will report full year earnings of $3.43 per share for the current fiscal year, with EPS estimates ranging from $2.82 to $3.91. For the next year, analysts expect that the company will post earnings of $3.29 per share, with EPS estimates ranging from $2.32 to $4.38. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that cover Newmont.

Newmont (NYSE:NEM – Get Rating) last announced its quarterly earnings results on Friday, April 22nd. The basic materials company reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.02). Newmont had a net margin of 8.53% and a return on equity of 10.24%. The business had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the previous year, the business posted $0.74 EPS. The firm’s revenue was up 5.3% on a year-over-year basis.

A number of analysts recently weighed in on the stock. Raymond James reduced their price objective on shares of Newmont from $92.00 to $88.00 and set an “outperform” rating on the stock in a research report on Monday, April 25th. StockNews.com assumed coverage on shares of Newmont in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. TD Securities reduced their price objective on shares of Newmont from $82.00 to $79.00 and set a “hold” rating on the stock in a research report on Monday, April 25th. Fundamental Research reissued a “buy” rating and issued a $79.52 price objective on shares of Newmont in a research report on Tuesday, May 10th. Finally, National Bankshares cut their price target on Newmont from $119.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 26th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $74.69.

Shares of NYSE:NEM traded down $0.28 during trading on Wednesday, reaching $68.10. The company’s stock had a trading volume of 118,692 shares, compared to its average volume of 5,740,203. The company has a current ratio of 2.92, a quick ratio of 2.53 and a debt-to-equity ratio of 0.28. Newmont has a 12 month low of $52.60 and a 12 month high of $86.37. The firm’s 50 day simple moving average is $73.53 and its two-hundred day simple moving average is $67.34. The stock has a market capitalization of $54.05 billion, a PE ratio of 51.99 and a beta of 0.37.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 16th. Stockholders of record on Thursday, June 2nd will be issued a $0.55 dividend. The ex-dividend date is Wednesday, June 1st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.23%. Newmont’s payout ratio is currently 167.94%.

In other Newmont news, CEO Thomas Ronald Palmer sold 11,000 shares of the stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $67.64, for a total transaction of $744,040.00. Following the completion of the sale, the chief executive officer now directly owns 276,949 shares of the company’s stock, valued at approximately $18,732,830.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Robert D. Atkinson sold 3,000 shares of the stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $67.64, for a total value of $202,920.00. Following the sale, the chief operating officer now directly owns 67,617 shares of the company’s stock, valued at $4,573,613.88. The disclosure for this sale can be found here. Insiders have sold a total of 66,343 shares of company stock worth $4,914,333 in the last 90 days. 0.11% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. J2 Capital Management Inc lifted its position in Newmont by 2.4% during the 1st quarter. J2 Capital Management Inc now owns 5,656 shares of the basic materials company’s stock worth $449,000 after acquiring an additional 130 shares during the period. Private Capital Group LLC lifted its holdings in shares of Newmont by 8.7% in the 1st quarter. Private Capital Group LLC now owns 1,692 shares of the basic materials company’s stock valued at $135,000 after buying an additional 135 shares during the period. Glassman Wealth Services lifted its holdings in shares of Newmont by 21.8% in the 1st quarter. Glassman Wealth Services now owns 821 shares of the basic materials company’s stock valued at $65,000 after buying an additional 147 shares during the period. Seelaus Asset Management LLC lifted its holdings in shares of Newmont by 2.7% in the 1st quarter. Seelaus Asset Management LLC now owns 5,790 shares of the basic materials company’s stock valued at $460,000 after buying an additional 150 shares during the period. Finally, Lee Johnson Capital Management LLC raised its holdings in Newmont by 0.6% during the first quarter. Lee Johnson Capital Management LLC now owns 27,243 shares of the basic materials company’s stock worth $2,164,000 after purchasing an additional 160 shares during the last quarter. 78.41% of the stock is owned by institutional investors.

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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