Newmont (NYSE:NEM) Announces Quarterly Earnings Results

Newmont (NYSE:NEM - Get Free Report) posted its quarterly earnings results on Wednesday. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.54, Zacks reports. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The business had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.82 billion.

Newmont Stock Down 3.5 %

Newmont stock traded down $1.97 during trading on Friday, reaching $53.73. The stock had a trading volume of 7,219,770 shares, compared to its average volume of 9,966,864. Newmont has a 52-week low of $36.86 and a 52-week high of $58.72. The business has a 50 day moving average price of $47.76 and a 200 day moving average price of $45.17. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The stock has a market cap of $60.57 billion, a PE ratio of 18.32, a P/E/G ratio of 0.41 and a beta of 0.54.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Tuesday, May 27th. Newmont's dividend payout ratio is currently 34.13%.

Insider Activity at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $90,785.67. Following the transaction, the director now directly owns 47,916 shares in the company, valued at approximately $2,094,408.36. This trade represents a 4.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $386,010.00. Following the completion of the transaction, the chief operating officer now owns 136,967 shares in the company, valued at approximately $5,874,514.63. This represents a 6.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,154 shares of company stock valued at $825,678 over the last quarter. 0.05% of the stock is owned by insiders.

Institutional Trading of Newmont

An institutional investor recently raised its position in Newmont stock. Brighton Jones LLC raised its holdings in Newmont Co. (NYSE:NEM - Free Report) by 15.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,606 shares of the basic materials company's stock after acquiring an additional 1,847 shares during the quarter. Brighton Jones LLC's holdings in Newmont were worth $506,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 68.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NEM shares. BMO Capital Markets reissued an "outperform" rating on shares of Newmont in a research note on Thursday. National Bank Financial raised shares of Newmont to a "hold" rating in a research report on Friday, March 21st. National Bankshares restated a "sector perform" rating on shares of Newmont in a research report on Wednesday. UBS Group upgraded shares of Newmont from a "neutral" rating to a "buy" rating and boosted their target price for the company from $50.00 to $60.00 in a report on Friday, April 11th. Finally, Scotiabank restated a "sector perform" rating on shares of Newmont in a report on Monday, April 14th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $55.40.

About Newmont

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.