Newmont (NYSE:NEM – Get Free Report) is set to post its quarterly earnings results before the market opens on Thursday, July 20th. Analysts expect Newmont to post earnings of $0.49 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 announced its quarterly earnings results on Thursday, April 27th. The basic materials company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.07. Newmont had a positive return on equity of 6.05% and a negative net margin of 4.55%. The company had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter in the previous year, the firm earned $0.69 earnings per share. The business’s quarterly revenue was down 11.4% compared to the same quarter last year. On average, analysts expect Newmont to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.
Newmont Price Performance
Shares of NYSE:NEM opened at $45.21 on Thursday. Newmont has a fifty-two week low of $37.45 and a fifty-two week high of $60.08. The business has a 50-day moving average of $43.26 and a two-hundred day moving average of $46.75. The stock has a market capitalization of $35.93 billion, a P/E ratio of -68.50, a P/E/G ratio of 1.41 and a beta of 0.34. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.38 and a quick ratio of 2.00.
Newmont Announces Dividend
Analyst Upgrades and Downgrades
NEM has been the topic of a number of recent analyst reports. Raymond James dropped their price objective on Newmont from $58.00 to $57.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 16th. National Bank Financial lifted their price objective on Newmont from C$91.00 to C$94.00 in a research note on Tuesday, May 2nd. Barclays upgraded Newmont from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $62.00 to $61.00 in a research note on Friday, July 7th. Citigroup dropped their price objective on Newmont from $70.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, April 4th. Finally, The Goldman Sachs Group lifted their price objective on Newmont from $58.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, April 21st. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.49.
Insider Buying and Selling at Newmont
In other Newmont news, CEO Thomas Ronald Palmer sold 11,000 shares of Newmont stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $47.76, for a total transaction of $525,360.00. Following the sale, the chief executive officer now directly owns 300,039 shares of the company’s stock, valued at $14,329,862.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Thomas Ronald Palmer sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $47.76, for a total value of $525,360.00. Following the transaction, the chief executive officer now directly owns 300,039 shares of the company’s stock, valued at approximately $14,329,862.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Robert D. Atkinson sold 3,000 shares of the company’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $47.76, for a total value of $143,280.00. Following the transaction, the chief operating officer now directly owns 81,751 shares in the company, valued at approximately $3,904,427.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,000 shares of company stock valued at $1,589,230. 0.07% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the company. Parkside Financial Bank & Trust raised its position in shares of Newmont by 25.8% during the 1st quarter. Parkside Financial Bank & Trust now owns 1,354 shares of the basic materials company’s stock valued at $108,000 after acquiring an additional 278 shares during the last quarter. Smith Moore & CO. raised its position in shares of Newmont by 1.4% during the 1st quarter. Smith Moore & CO. now owns 21,317 shares of the basic materials company’s stock valued at $1,045,000 after acquiring an additional 302 shares during the last quarter. Cresset Asset Management LLC raised its position in shares of Newmont by 3.4% during the 1st quarter. Cresset Asset Management LLC now owns 11,068 shares of the basic materials company’s stock valued at $879,000 after acquiring an additional 368 shares during the last quarter. Ancora Advisors LLC raised its position in shares of Newmont by 3.5% during the 4th quarter. Ancora Advisors LLC now owns 13,209 shares of the basic materials company’s stock valued at $624,000 after acquiring an additional 449 shares during the last quarter. Finally, Highlander Capital Management LLC raised its position in shares of Newmont by 16.5% during the 4th quarter. Highlander Capital Management LLC now owns 3,618 shares of the basic materials company’s stock valued at $171,000 after acquiring an additional 513 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.
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, and Ghana. As of December 31, 2022, it had proven and probable gold reserves of 96.1 million ounces and land position of 61,500 square kilometers.
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