Newmont (NEM) Set to Announce Earnings on Wednesday

Newmont (NYSE:NEM) is set to issue its quarterly earnings data after the market closes on Wednesday, October 23rd. Analysts expect the company to announce earnings of $0.78 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.10. The firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.13 billion. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The company’s quarterly revenue was up 64.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.33 EPS. On average, analysts expect Newmont to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Newmont Trading Up 1.6 %

Shares of Newmont stock opened at $55.69 on Wednesday. Newmont has a 52-week low of $29.42 and a 52-week high of $56.30. The stock has a market cap of $64.22 billion, a PE ratio of -20.86, a PEG ratio of 0.43 and a beta of 0.50. The firm has a 50-day moving average of $52.31 and a 200-day moving average of $45.97. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.85 and a current ratio of 2.11.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 5th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.80%. Newmont’s payout ratio is presently -37.45%.

Wall Street Analyst Weigh In

NEM has been the subject of several recent research reports. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. UBS Group upped their target price on Newmont from $65.00 to $67.00 and gave the company a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. cut Newmont from an “overweight” rating to a “neutral” rating in a research report on Monday, July 8th. Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $48.00 to $59.00 in a research report on Monday, August 19th. Finally, Jefferies Financial Group raised their target price on shares of Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a report on Friday, October 4th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $53.46.

Insiders Place Their Bets

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $1,076,200.00. Following the completion of the transaction, the chief executive officer now directly owns 271,469 shares in the company, valued at approximately $14,607,746.89. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Thomas Ronald Palmer sold 20,000 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 $1,076,200.00. Following the sale, the chief executive officer now directly owns 271,469 shares in the company, valued at approximately $14,607,746.89. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm’s 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 transaction, the executive vice president now owns 91,596 shares of the company’s stock, valued at approximately $4,928,780.76. This trade represents 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 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.