$0.26 EPS Expected for Newmont Mining Corp (NEM) This Quarter

Brokerages forecast that Newmont Mining Corp (NYSE:NEM) will report $0.26 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Newmont Mining’s earnings, with the lowest EPS estimate coming in at $0.22 and the highest estimate coming in at $0.30. Newmont Mining reported earnings of $0.35 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 25.7%. The business is expected to issue its next earnings report before the market opens on Thursday, April 25th.

On average, analysts expect that Newmont Mining will report full year earnings of $1.33 per share for the current fiscal year, with EPS estimates ranging from $1.17 to $1.52. For the next year, analysts expect that the company will post earnings of $1.36 per share, with EPS estimates ranging from $1.08 to $1.77. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Newmont Mining.

Newmont Mining (NYSE:NEM) last released its quarterly earnings results on Thursday, February 21st. The basic materials company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.17. Newmont Mining had a net margin of 4.70% and a return on equity of 6.19%. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period last year, the firm earned $0.39 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis.

NEM has been the subject of a number of research analyst reports. Desjardins restated a “buy” rating and set a $43.00 price objective on shares of Newmont Mining in a report on Thursday, April 4th. Raymond James set a $47.00 price objective on shares of Newmont Mining and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Canaccord Genuity upgraded shares of Newmont Mining from a “hold” rating to a “buy” rating and raised their price objective for the stock from $37.00 to $42.00 in a report on Tuesday, January 15th. Credit Suisse Group restated a “buy” rating on shares of Newmont Mining in a report on Wednesday, January 16th. Finally, B. Riley restated a “neutral” rating and set a $38.40 price objective on shares of Newmont Mining in a report on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $40.49.

In other news, COO Thomas Ronald Palmer sold 1,250 shares of Newmont Mining stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $34.13, for a total value of $42,662.50. Following the completion of the transaction, the chief operating officer now owns 126,610 shares in the company, valued at $4,321,199.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP E Randall Engel sold 17,100 shares of Newmont Mining stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $37.14, for a total transaction of $635,094.00. Following the completion of the transaction, the executive vice president now owns 236,847 shares of the company’s stock, valued at approximately $8,796,497.58. The disclosure for this sale can be found here. Insiders sold 40,850 shares of company stock valued at $1,469,194 in the last quarter. Corporate insiders own 0.36% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of NEM. Archford Capital Strategies LLC boosted its position in shares of Newmont Mining by 66.7% in the fourth quarter. Archford Capital Strategies LLC now owns 750 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 300 shares during the period. First Mercantile Trust Co. boosted its position in shares of Newmont Mining by 70.2% in the fourth quarter. First Mercantile Trust Co. now owns 800 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 330 shares during the period. Bessemer Group Inc. boosted its position in shares of Newmont Mining by 377.3% in the fourth quarter. Bessemer Group Inc. now owns 840 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 664 shares during the period. Berman Capital Advisors LLC bought a new position in shares of Newmont Mining in the fourth quarter valued at approximately $30,000. Finally, We Are One Seven LLC bought a new position in shares of Newmont Mining in the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 86.87% of the company’s stock.

NYSE NEM opened at $33.04 on Tuesday. Newmont Mining has a 52-week low of $29.06 and a 52-week high of $41.96. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.95 and a quick ratio of 2.60. The stock has a market cap of $17.60 billion, a P/E ratio of 24.47 and a beta of 0.01.

The firm also recently announced a special dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 17th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, April 16th. This represents a dividend yield of 1.57%. Newmont Mining’s payout ratio is 41.48%.

Newmont Mining Company Profile

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.

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