Newmont Mining Corporation to Post FY2017 Earnings of $1.53 Per Share, Jefferies Group Forecasts (NEM)
Newmont Mining Corporation (NYSE:NEM) – Equities research analysts at Jefferies Group raised their FY2017 earnings per share (EPS) estimates for Newmont Mining Corporation in a research note issued to investors on Thursday. Jefferies Group analyst C. Lafemina now expects that the basic materials company will post earnings of $1.53 per share for the year, up from their previous forecast of $1.47. Jefferies Group currently has a “Hold” rating and a $35.00 price target on the stock. Jefferies Group also issued estimates for Newmont Mining Corporation’s FY2020 earnings at $2.07 EPS.
Newmont Mining Corporation (NYSE:NEM) last announced its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.20. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.77 billion. Newmont Mining Corporation had a negative net margin of 6.73% and a positive return on equity of 6.67%. The business’s revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 EPS. WARNING: “Newmont Mining Corporation to Post FY2017 Earnings of $1.53 Per Share, Jefferies Group Forecasts (NEM)” was first posted by Daily Political and is owned by of Daily Political. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international copyright and trademark laws. The legal version of this piece can be accessed at https://www.dailypolitical.com/2017/10/14/newmont-mining-corporation-to-post-fy2017-earnings-of-1-53-per-share-jefferies-group-forecasts-nem.html.
Other equities analysts also recently issued research reports about the stock. TheStreet raised shares of Newmont Mining Corporation from a “c+” rating to a “b” rating in a research note on Wednesday. Zacks Investment Research raised shares of Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Monday, July 31st. Argus raised shares of Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research note on Thursday, July 27th. Deutsche Bank AG reissued a “buy” rating and set a $42.00 price objective (down previously from $44.00) on shares of Newmont Mining Corporation in a research note on Sunday, June 25th. Finally, Credit Suisse Group set a $45.00 price objective on shares of Newmont Mining Corporation and gave the company a “buy” rating in a research note on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $40.96.
Shares of Newmont Mining Corporation (NEM) opened at 38.59 on Friday. The firm’s market cap is $20.58 billion. Newmont Mining Corporation has a one year low of $30.19 and a one year high of $39.63. The stock’s 50 day moving average is $38.11 and its 200-day moving average is $35.17.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th were given a $0.075 dividend. The ex-dividend date of this dividend was Wednesday, September 13th. This represents a $0.30 annualized dividend and a dividend yield of 0.78%. This is a positive change from Newmont Mining Corporation’s previous quarterly dividend of $0.05. Newmont Mining Corporation’s dividend payout ratio is presently -33.33%.
In related news, EVP E Randall Engel sold 5,700 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $37.11, for a total transaction of $211,527.00. Following the completion of the sale, the executive vice president now directly owns 251,100 shares of the company’s stock, valued at approximately $9,318,321. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Elaine J. Dorward-King sold 10,250 shares of the firm’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $38.27, for a total transaction of $392,267.50. Following the sale, the executive vice president now directly owns 82,114 shares of the company’s stock, valued at $3,142,502.78. The disclosure for this sale can be found here. Insiders sold 29,707 shares of company stock valued at $1,120,866 in the last three months. Company insiders own 0.32% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MUFG Securities EMEA plc acquired a new stake in Newmont Mining Corporation during the 2nd quarter valued at $12,341,000. Boyer & Corporon Wealth Management LLC grew its holdings in Newmont Mining Corporation by 9.4% during the 2nd quarter. Boyer & Corporon Wealth Management LLC now owns 116,703 shares of the basic materials company’s stock valued at $3,780,000 after purchasing an additional 10,048 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in Newmont Mining Corporation by 9.6% during the 2nd quarter. Neuberger Berman Group LLC now owns 2,281,035 shares of the basic materials company’s stock valued at $73,883,000 after purchasing an additional 200,466 shares in the last quarter. Vanguard Group Inc. grew its holdings in Newmont Mining Corporation by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 52,924,916 shares of the basic materials company’s stock valued at $1,744,405,000 after purchasing an additional 1,671,897 shares in the last quarter. Finally, Cypress Capital Group acquired a new stake in Newmont Mining Corporation during the 1st quarter valued at $335,000. 81.07% of the stock is owned by institutional investors and hedge funds.
Newmont Mining Corporation Company Profile
Newmont Mining Corporation is a mining company, which is focused on the production of and exploration for gold and copper. The Company is primarily a gold producer with operations and/or assets in the United States, Australia, Peru, Ghana and Suriname. The Company’s segments include North America, South America, Asia Pacific and Africa.
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