Newmont (NEM) to Release Quarterly Earnings on Wednesday

Newmont (NYSE:NEM - Get Free Report) will be releasing its earnings data after the market closes on Wednesday, July 24th. Analysts expect Newmont to post earnings of $0.52 per share for the quarter. Persons that are interested in participating in the company's earnings conference call can do so using this link.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.20. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same period last year, the business earned $0.40 earnings per share. Newmont's revenue was up 50.2% compared to the same quarter last year. On average, analysts expect Newmont to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Newmont Price Performance

Shares of NEM stock traded down $0.06 during trading hours on Wednesday, reaching $48.26. The stock had a trading volume of 8,195,289 shares, compared to its average volume of 11,482,950. Newmont has a 12 month low of $29.42 and a 12 month high of $48.97. The firm has a market capitalization of $55.65 billion, a PE ratio of -18.07, a PEG ratio of 0.38 and a beta of 0.47. The company has a current ratio of 2.15, a quick ratio of 1.90 and a debt-to-equity ratio of 0.32. The stock's fifty day simple moving average is $42.82 and its 200 day simple moving average is $38.45.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $1.00 annualized dividend and a yield of 2.07%. Newmont's payout ratio is presently -37.45%.

Analysts Set New Price Targets

Several brokerages have issued reports on NEM. National Bank Financial lowered shares of Newmont from an "outperform overweight" rating to a "sector perform overweight" rating in a research report on Tuesday, April 30th. Scotiabank lifted their target price on shares of Newmont from $46.50 to $48.00 and gave the company a "sector perform" rating in a research report on Thursday, May 23rd. StockNews.com upgraded shares of Newmont from a "sell" rating to a "hold" rating in a research report on Friday, April 26th. Jefferies Financial Group lifted their target price on shares of Newmont from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Friday, July 12th. Finally, Bank of America boosted their price objective on shares of Newmont from $49.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, June 26th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $50.21.

Insider Buying and Selling

In related news, CEO Thomas Ronald Palmer sold 13,000 shares of Newmont stock in a transaction on Monday, July 1st. The shares were sold at an average price of $42.13, for a total value of $547,690.00. Following the transaction, the chief executive officer now directly owns 331,469 shares of the company's stock, valued at $13,964,788.97. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.06% of the stock is owned by insiders.

Newmont Company Profile

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.