Jefferies Financial Group Weighs in on Newmont Co.’s FY2022 Earnings (NYSE:NEM)

Newmont Co. (NYSE:NEMGet Rating) – Stock analysts at Jefferies Financial Group lifted their FY2022 earnings estimates for Newmont in a report issued on Tuesday, January 17th. Jefferies Financial Group analyst C. Lafemina now anticipates that the basic materials company will earn $1.88 per share for the year, up from their prior forecast of $1.58. The consensus estimate for Newmont’s current full-year earnings is $1.79 per share. Jefferies Financial Group also issued estimates for Newmont’s Q4 2022 earnings at $0.47 EPS.

Newmont (NYSE:NEMGet Rating) last posted its quarterly earnings results on Tuesday, November 1st. The basic materials company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.02). Newmont had a return on equity of 8.07% and a net margin of 8.28%. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.79 billion.

Several other equities analysts also recently commented on NEM. StockNews.com began coverage on shares of Newmont in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Eight Capital lowered their target price on shares of Newmont to $58.00 in a report on Thursday, October 27th. National Bank Financial boosted their target price on shares of Newmont from C$76.00 to C$86.00 in a report on Friday, January 13th. Canaccord Genuity Group reissued a “hold” rating and issued a $56.00 target price (up previously from $50.00) on shares of Newmont in a report on Thursday. Finally, Barclays decreased their price target on shares of Newmont from $55.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday, November 21st. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Newmont presently has an average rating of “Hold” and an average price target of $63.63.

Newmont Price Performance

NEM stock opened at $53.34 on Friday. Newmont has a one year low of $37.45 and a one year high of $86.37. The company’s fifty day moving average price is $48.31 and its 200-day moving average price is $46.24. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.29 and a current ratio of 2.72. The company has a market capitalization of $42.34 billion, a PE ratio of 42.33 and a beta of 0.27.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Hoey Investments Inc. bought a new position in shares of Newmont in the second quarter worth about $30,000. Crewe Advisors LLC grew its holdings in Newmont by 98.0% during the 2nd quarter. Crewe Advisors LLC now owns 584 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 289 shares in the last quarter. Central Bank & Trust Co. grew its holdings in Newmont by 64.3% during the 2nd quarter. Central Bank & Trust Co. now owns 608 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 238 shares in the last quarter. Concord Wealth Partners grew its holdings in Newmont by 193.0% during the 2nd quarter. Concord Wealth Partners now owns 630 shares of the basic materials company’s stock worth $38,000 after acquiring an additional 415 shares in the last quarter. Finally, Romano Brothers AND Company bought a new position in Newmont during the 4th quarter worth about $34,000. 77.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Newmont

In other Newmont news, insider Mark Casper sold 4,890 shares of the business’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $41.98, for a total transaction of $205,282.20. Following the transaction, the insider now owns 18,217 shares in the company, valued at $764,749.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Mark Casper sold 4,890 shares of the company’s stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $41.98, for a total value of $205,282.20. Following the transaction, the insider now directly owns 18,217 shares in the company, valued at $764,749.66. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Robert D. Atkinson sold 3,000 shares of the company’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $43.02, for a total transaction of $129,060.00. Following the completion of the transaction, the chief operating officer now owns 39,947 shares in the company, valued at $1,718,519.94. The disclosure for this sale can be found here. Insiders have sold 46,890 shares of company stock worth $2,160,662 over the last quarter. Insiders own 0.11% of the company’s stock.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 29th. Shareholders of record on Thursday, December 8th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend was Wednesday, December 7th. Newmont’s dividend payout ratio (DPR) is 174.60%.

Newmont Company Profile

(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.

See Also

Earnings History and Estimates for Newmont (NYSE:NEM)

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