$1.89 Billion in Sales Expected for Newmont Mining Corp (NEM) This Quarter
Brokerages predict that Newmont Mining Corp (NYSE:NEM) will announce sales of $1.89 billion for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Newmont Mining’s earnings, with the lowest sales estimate coming in at $1.81 billion and the highest estimate coming in at $1.96 billion. Newmont Mining reported sales of $1.66 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 13.9%. The company is expected to announce its next quarterly earnings report on Monday, April 23rd.
On average, analysts expect that Newmont Mining will report full-year sales of $1.89 billion for the current fiscal year, with estimates ranging from $7.28 billion to $8.22 billion. For the next fiscal year, analysts anticipate that the business will report sales of $7.65 billion per share, with estimates ranging from $7.17 billion to $8.64 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Newmont Mining.
Newmont Mining (NYSE:NEM) last posted its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.40 EPS for the quarter, meeting the consensus estimate of $0.40. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Newmont Mining had a positive return on equity of 6.52% and a negative net margin of 1.33%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 EPS.
In other news, EVP Elaine J. Dorward-King sold 10,250 shares of the stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $36.48, for a total value of $373,920.00. Following the completion of the transaction, the executive vice president now directly owns 71,864 shares of the company’s stock, valued at approximately $2,621,598.72. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Thomas Ronald Palmer sold 1,250 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $37.89, for a total value of $47,362.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,450 shares of company stock valued at $967,601. 0.32% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Timber Hill LLC acquired a new stake in Newmont Mining during the 3rd quarter valued at $260,000. Commonwealth Bank of Australia increased its holdings in Newmont Mining by 5.7% during the 3rd quarter. Commonwealth Bank of Australia now owns 433,082 shares of the basic materials company’s stock valued at $16,239,000 after purchasing an additional 23,286 shares in the last quarter. Gabelli Funds LLC increased its holdings in Newmont Mining by 3.7% during the 3rd quarter. Gabelli Funds LLC now owns 2,731,471 shares of the basic materials company’s stock valued at $102,457,000 after purchasing an additional 97,300 shares in the last quarter. Cohen & Steers Inc. increased its holdings in Newmont Mining by 53.4% during the 3rd quarter. Cohen & Steers Inc. now owns 108,616 shares of the basic materials company’s stock valued at $4,074,000 after purchasing an additional 37,813 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in Newmont Mining by 2.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 974,348 shares of the basic materials company’s stock valued at $36,554,000 after purchasing an additional 22,325 shares in the last quarter. 82.30% of the stock is owned by hedge funds and other institutional investors.
Newmont Mining (NYSE NEM) opened at $37.93 on Friday. The company has a quick ratio of 3.14, a current ratio of 3.63 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $20,230.00, a P/E ratio of 31.61 and a beta of 0.29. Newmont Mining has a twelve month low of $31.42 and a twelve month high of $42.04.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Thursday, March 8th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, March 7th. This is a boost from Newmont Mining’s previous quarterly dividend of $0.08. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.48%. Newmont Mining’s dividend payout ratio is presently 25.00%.
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About Newmont Mining
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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