Newmont Mining Corporation (NYSE:NEM) - Investment analysts at FBR & Co raised their Q3 2017 earnings per share estimates for Newmont Mining Corporation in a report issued on Wednesday. FBR & Co analyst L. Pipes now anticipates that the basic materials company will post earnings of $0.28 per share for the quarter, up from their prior estimate of $0.24. FBR & Co also issued estimates for Newmont Mining Corporation’s Q1 2018 earnings at $0.21 EPS, Q2 2018 earnings at $0.22 EPS, Q3 2018 earnings at $0.22 EPS, Q4 2018 earnings at $0.22 EPS, FY2018 earnings at $0.88 EPS and FY2019 earnings at $1.13 EPS.
NEM has been the subject of a number of other research reports. Zacks Investment Research lowered shares of Newmont Mining Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 10th. Raymond James Financial, Inc. began coverage on shares of Newmont Mining Corporation in a report on Thursday, June 15th. They set an “outperform” rating and a $43.00 target price for the company. Royal Bank Of Canada set a $40.00 target price on shares of Newmont Mining Corporation and gave the stock a “hold” rating in a report on Monday, June 12th. Scotiabank raised shares of Newmont Mining Corporation from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $43.00 to $43.50 in a report on Wednesday, July 5th. Finally, Argus raised shares of Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a report on Thursday. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Newmont Mining Corporation currently has an average rating of “Hold” and a consensus target price of $41.91.
Newmont Mining Corporation (NEM) opened at 37.06 on Thursday. The company’s market cap is $19.76 billion. The firm’s 50-day moving average is $33.64 and its 200 day moving average is $34.21. Newmont Mining Corporation has a 52-week low of $30.19 and a 52-week high of $46.07.
Newmont Mining Corporation (NYSE:NEM) last released its quarterly earnings data on Tuesday, July 25th. The basic materials company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.20. Newmont Mining Corporation had a negative net margin of 6.73% and a positive return on equity of 6.67%. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the business earned $0.44 earnings per share. Newmont Mining Corporation’s quarterly revenue was up 12.3% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently bought and sold shares of NEM. Cleararc Capital Inc. boosted its position in Newmont Mining Corporation by 0.6% in the first quarter. Cleararc Capital Inc. now owns 12,988 shares of the basic materials company’s stock worth $428,000 after buying an additional 73 shares during the last quarter. Advisor Partners LLC boosted its position in Newmont Mining Corporation by 0.7% in the first quarter. Advisor Partners LLC now owns 11,349 shares of the basic materials company’s stock worth $374,000 after buying an additional 84 shares during the last quarter. Parkwood LLC boosted its position in Newmont Mining Corporation by 0.9% in the first quarter. Parkwood LLC now owns 19,149 shares of the basic materials company’s stock worth $631,000 after buying an additional 170 shares during the last quarter. P.R. Herzig & Co. Inc. boosted its position in Newmont Mining Corporation by 0.5% in the first quarter. P.R. Herzig & Co. Inc. now owns 43,100 shares of the basic materials company’s stock worth $1,421,000 after buying an additional 200 shares during the last quarter. Finally, Advantus Capital Management Inc boosted its position in Newmont Mining Corporation by 0.4% in the first quarter. Advantus Capital Management Inc now owns 53,529 shares of the basic materials company’s stock worth $1,764,000 after buying an additional 224 shares during the last quarter. 81.65% of the stock is currently owned by institutional investors.
In other Newmont Mining Corporation news, insider Gary J. Goldberg sold 1,000 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $33.67, for a total value of $33,670.00. Following the transaction, the insider now owns 334,730 shares of the company’s stock, valued at $11,270,359.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP E Randall Engel sold 5,700 shares of the company’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $35.00, for a total transaction of $199,500.00. Following the completion of the transaction, the executive vice president now directly owns 256,800 shares in the company, valued at approximately $8,988,000. The disclosure for this sale can be found here. Insiders sold 13,950 shares of company stock worth $468,670 in the last ninety days. 0.32% of the stock is currently owned by corporate insiders.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Thursday, September 14th will be given a $0.075 dividend. The ex-dividend date of this dividend is Wednesday, September 13th. This represents a $0.30 dividend on an annualized basis and a yield of 0.81%. This is a boost from Newmont Mining Corporation’s previous quarterly dividend of $0.05. Newmont Mining Corporation’s dividend payout ratio is presently -22.22%.
Newmont Mining Corporation Company Profile
Newmont Mining Corporation is a mining company, which is focused on the production of and exploration for gold and copper. The Company is primarily a gold producer with operations and/or assets in the United States, Australia, Peru, Ghana and Suriname. The Company’s segments include North America, South America, Asia Pacific and Africa.
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