$1.84 Billion in Sales Expected for Newmont Mining Corp (NEM) This Quarter

Analysts expect Newmont Mining Corp (NYSE:NEM) to report sales of $1.84 billion for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Newmont Mining’s earnings. The highest sales estimate is $1.90 billion and the lowest is $1.77 billion. Newmont Mining posted sales of $1.88 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 2.1%. The business is expected to issue its next quarterly earnings report on Tuesday, July 24th.

According to Zacks, analysts expect that Newmont Mining will report full-year sales of $7.50 billion for the current fiscal year, with estimates ranging from $7.35 billion to $7.84 billion. For the next year, analysts anticipate that the firm will post sales of $7.68 billion per share, with estimates ranging from $7.37 billion to $8.33 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Newmont Mining.

Newmont Mining (NYSE:NEM) last issued its earnings results on Thursday, April 26th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.84 billion. Newmont Mining had a net margin of 0.64% and a return on equity of 7.01%. The business’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 earnings per share.



NEM has been the topic of several analyst reports. Morgan Stanley upgraded shares of Newmont Mining from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, June 12th. Bank of America upped their target price on shares of Newmont Mining from $46.00 to $49.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Royal Bank of Canada downgraded shares of Newmont Mining from a “sector perform” rating to an “underperform” rating and upped their target price for the stock from $37.71 to $43.00 in a research note on Monday, March 12th. They noted that the move was a valuation call. TheStreet downgraded shares of Newmont Mining from a “b-” rating to a “c+” rating in a research note on Monday, March 12th. Finally, Citigroup upped their target price on shares of Newmont Mining from $37.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday, March 1st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. Newmont Mining has an average rating of “Hold” and a consensus price target of $42.92.

In other news, COO Thomas Ronald Palmer sold 1,250 shares of the business’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $39.44, for a total transaction of $49,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gary J. Goldberg sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $39.31, for a total transaction of $157,240.00. The disclosure for this sale can be found here. Insiders have sold 24,000 shares of company stock valued at $935,890 over the last three months. 0.36% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the business. MetLife Investment Advisors LLC purchased a new stake in Newmont Mining during the fourth quarter valued at approximately $6,191,000. Alliancebernstein L.P. increased its holdings in Newmont Mining by 120.9% during the fourth quarter. Alliancebernstein L.P. now owns 2,386,160 shares of the basic materials company’s stock valued at $89,529,000 after buying an additional 1,306,175 shares during the last quarter. American International Group Inc. increased its holdings in Newmont Mining by 14.9% during the fourth quarter. American International Group Inc. now owns 182,639 shares of the basic materials company’s stock valued at $6,853,000 after buying an additional 23,655 shares during the last quarter. QS Investors LLC increased its holdings in Newmont Mining by 102.3% during the fourth quarter. QS Investors LLC now owns 35,652 shares of the basic materials company’s stock valued at $1,338,000 after buying an additional 18,026 shares during the last quarter. Finally, Xact Kapitalforvaltning AB increased its holdings in Newmont Mining by 58.9% during the fourth quarter. Xact Kapitalforvaltning AB now owns 68,919 shares of the basic materials company’s stock valued at $2,586,000 after buying an additional 25,558 shares during the last quarter. 82.25% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE NEM traded down $0.40 during midday trading on Friday, hitting $37.95. The stock had a trading volume of 3,469,087 shares, compared to its average volume of 4,989,324. The company has a market cap of $20.50 billion, a PE ratio of 25.99 and a beta of 0.28. Newmont Mining has a 52 week low of $31.42 and a 52 week high of $42.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.62 and a current ratio of 4.18.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 21st. Stockholders of record on Thursday, June 7th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, June 6th. This represents a $0.56 annualized dividend and a dividend yield of 1.48%. Newmont Mining’s payout ratio is 38.36%.

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

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