Wall Street analysts expect Newmont Mining Corp (NYSE:NEM) to report earnings per share of $0.29 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Newmont Mining’s earnings. The highest EPS estimate is $0.37 and the lowest is $0.24. Newmont Mining posted earnings of $0.35 per share in the same quarter last year, which would suggest a negative year over year growth rate of 17.1%. The business is scheduled to announce its next earnings report before the market opens on Thursday, October 25th.
According to Zacks, analysts expect that Newmont Mining will report full year earnings of $1.24 per share for the current fiscal year, with EPS estimates ranging from $1.13 to $1.50. For the next fiscal year, analysts anticipate that the company will post earnings of $1.38 per share, with EPS estimates ranging from $1.04 to $1.91. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Newmont Mining.
Newmont Mining (NYSE:NEM) last released its quarterly earnings data on Thursday, July 26th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.02. Newmont Mining had a return on equity of 6.17% and a net margin of 2.23%. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the company posted $0.46 earnings per share. The business’s revenue for the quarter was down 11.4% compared to the same quarter last year.
NEM has been the subject of several recent analyst reports. ValuEngine lowered Newmont Mining from a “buy” rating to a “hold” rating in a research note on Wednesday, June 6th. Citigroup decreased their target price on Newmont Mining from $42.00 to $36.00 and set a “neutral” rating on the stock in a report on Wednesday, August 29th. JPMorgan Chase & Co. decreased their target price on Newmont Mining from $47.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, September 17th. Morgan Stanley upgraded Newmont Mining from an “equal weight” rating to an “overweight” rating in a report on Tuesday, June 12th. Finally, Canaccord Genuity set a $40.00 target price on Newmont Mining and gave the stock a “hold” rating in a report on Tuesday, July 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. Newmont Mining has a consensus rating of “Hold” and an average target price of $42.42.
Newmont Mining stock traded up $0.16 during mid-day trading on Tuesday, hitting $31.25. 5,832,174 shares of the company were exchanged, compared to its average volume of 5,050,447. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.60 and a quick ratio of 3.95. Newmont Mining has a 1-year low of $29.16 and a 1-year high of $42.04. The firm has a market capitalization of $16.83 billion, a P/E ratio of 21.40 and a beta of 0.19.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 27th. Stockholders of record on Thursday, September 13th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Wednesday, September 12th. Newmont Mining’s payout ratio is presently 38.36%.
In other news, CFO Nancy Buese sold 2,000 shares of the stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $37.47, for a total transaction of $74,940.00. Following the sale, the chief financial officer now owns 86,577 shares in the company, valued at $3,244,040.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Elaine J. Dorward-King sold 3,000 shares of the stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $37.47, for a total value of $112,410.00. Following the sale, the executive vice president now owns 111,831 shares in the company, valued at approximately $4,190,307.57. The disclosure for this sale can be found here. Insiders have sold 19,250 shares of company stock worth $703,443 in the last 90 days. Company insiders own 0.36% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC boosted its holdings in Newmont Mining by 6.8% in the second quarter. Janus Henderson Group PLC now owns 3,598,606 shares of the basic materials company’s stock valued at $135,716,000 after acquiring an additional 228,782 shares during the last quarter. AGF Investments Inc. boosted its holdings in Newmont Mining by 2.5% in the second quarter. AGF Investments Inc. now owns 166,100 shares of the basic materials company’s stock valued at $6,264,000 after acquiring an additional 4,100 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Newmont Mining by 2.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,026,984 shares of the basic materials company’s stock valued at $76,438,000 after acquiring an additional 52,459 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in Newmont Mining in the second quarter valued at about $1,273,000. Finally, CIBC World Markets Inc. boosted its holdings in Newmont Mining by 37.6% in the second quarter. CIBC World Markets Inc. now owns 200,711 shares of the basic materials company’s stock valued at $7,569,000 after acquiring an additional 54,828 shares during the last quarter. Institutional investors and hedge funds own 82.62% of the company’s stock.
About Newmont Mining
Newmont Mining Corporation, together with its subsidiaries, operates in the mining industry. The company primarily acquires, develops, explores for, and produces gold, copper, and silver. Its operations and/or assets are located in the United States, Australia, Peru, Ghana, and Suriname. As of February 22, 2018, the company had proven and probable gold reserves of 68.5 million ounces and an aggregate land position of approximately 23,000 square miles.
Read More: Diversification in Investing
Get a free copy of the Zacks research report on Newmont Mining (NEM)
For more information about research offerings from Zacks Investment Research, visit Zacks.com