Newmont (NEM) to Release Quarterly Earnings on Thursday

Newmont (NYSE:NEM) is projected to post its quarterly earnings results after the market closes on Thursday, February 20th. Analysts expect Newmont to post earnings of $1.11 per share and revenue of $5.34 billion for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Newmont Stock Up 2.9 %

NYSE:NEM opened at $46.83 on Thursday. The stock has a 50-day simple moving average of $40.66 and a 200 day simple moving average of $46.49. Newmont has a 52-week low of $29.42 and a 52-week high of $58.72. The company has a market cap of $53.31 billion, a PE ratio of -30.81, a PEG ratio of 0.38 and a beta of 0.52. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $83,080.00. Following the sale, the director now directly owns 52,070 shares in the company, valued at $2,082,800. This represents a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Harry M. Iv Conger acquired 9,498 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was purchased at an average price of $42.15 per share, with a total value of $400,340.70. Following the completion of the transaction, the director now directly owns 14,498 shares of the company’s stock, valued at $611,090.70. This trade represents a 189.96 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 28,154 shares of company stock worth $1,166,843 in the last quarter. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NEM. CLSA initiated coverage on shares of Newmont in a research report on Friday, November 29th. They issued an “underperform” rating on the stock. UBS Group lowered Newmont from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Scotiabank cut their target price on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. Finally, The Goldman Sachs Group assumed coverage on Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.37.

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.