Zacks: Brokerages Expect Newmont Mining Co. (NEM) Will Post Earnings of $0.33 Per Share

Wall Street analysts expect Newmont Mining Co. (NYSE:NEM) to report $0.33 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Newmont Mining’s earnings, with the lowest EPS estimate coming in at $0.28 and the highest estimate coming in at $0.37. Newmont Mining reported earnings of $0.25 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 32%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Thursday, April 26th.

On average, analysts expect that Newmont Mining will report full year earnings of $1.45 per share for the current financial year, with EPS estimates ranging from $1.21 to $1.74. For the next financial year, analysts anticipate that the company will post earnings of $1.77 per share, with EPS estimates ranging from $1.06 to $2.36. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Newmont Mining.

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Newmont Mining (NYSE:NEM) last posted its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.40 earnings per share for the quarter, hitting the consensus estimate of $0.40. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.92 billion. Newmont Mining had a positive return on equity of 6.52% and a negative net margin of 1.33%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.25 EPS.



NEM has been the subject of several research reports. Scotiabank set a $48.00 price target on Newmont Mining and gave the stock a “buy” rating in a research note on Monday, January 15th. BMO Capital Markets set a $46.00 target price on Newmont Mining and gave the stock a “buy” rating in a research note on Wednesday, March 28th. Zacks Investment Research upgraded Newmont Mining from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Friday, February 9th. Bank of America raised their target price on Newmont Mining from $46.00 to $49.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Finally, ValuEngine upgraded Newmont Mining from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $42.93.

NEM stock opened at $41.35 on Monday. The company has a quick ratio of 3.14, a current ratio of 3.63 and a debt-to-equity ratio of 0.35. The firm has a market cap of $22,059.19, a PE ratio of 28.32 and a beta of 0.25. Newmont Mining has a fifty-two week low of $31.42 and a fifty-two week high of $42.04.

In other news, EVP Stephen P. Gottesfeld sold 5,000 shares of Newmont Mining stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $37.91, for a total transaction of $189,550.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gary J. Goldberg sold 1,000 shares of Newmont Mining stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $38.06, for a total value of $38,060.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,450 shares of company stock valued at $919,544. 0.36% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Premia Global Advisors LLC bought a new stake in shares of Newmont Mining during the 4th quarter valued at about $139,000. Exane Derivatives purchased a new position in shares of Newmont Mining during the 4th quarter valued at about $208,000. Brown Advisory Inc. purchased a new position in shares of Newmont Mining during the 4th quarter valued at about $228,000. Tower Bridge Advisors purchased a new position in shares of Newmont Mining during the 4th quarter valued at about $242,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of Newmont Mining during the 4th quarter valued at about $250,000. Hedge funds and other institutional investors own 82.24% of the company’s stock.

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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.

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Earnings History and Estimates for Newmont Mining (NYSE:NEM)

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