$0.31 EPS Expected for Newmont Mining Corp (NEM) This Quarter
Equities research analysts expect Newmont Mining Corp (NYSE:NEM) to announce earnings per share of $0.31 for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Newmont Mining’s earnings, with the lowest EPS estimate coming in at $0.27 and the highest estimate coming in at $0.37. Newmont Mining posted earnings of $0.35 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 11.4%. The business is scheduled to report its next quarterly earnings results on Thursday, October 25th.
On average, analysts expect that Newmont Mining will report full-year earnings of $1.31 per share for the current financial year, with EPS estimates ranging from $1.19 to $1.50. For the next year, analysts anticipate that the company will report earnings of $1.51 per share, with EPS estimates ranging from $1.04 to $1.91. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Newmont Mining.
Newmont Mining (NYSE:NEM) last announced its earnings results on Thursday, July 26th. The basic materials company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.76 billion. Newmont Mining had a net margin of 2.23% and a return on equity of 6.17%. Newmont Mining’s quarterly revenue was down 11.4% on a year-over-year basis. During the same period last year, the firm posted $0.46 earnings per share.
In other news, COO Thomas Ronald Palmer sold 1,250 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $30.53, for a total value of $38,162.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Elaine J. Dorward-King sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $37.47, for a total transaction of $112,410.00. Following the completion of the transaction, the executive vice president now owns 111,831 shares in the company, valued at approximately $4,190,307.57. The disclosure for this sale can be found here. Insiders sold 19,250 shares of company stock worth $703,443 in the last 90 days. Company insiders own 0.36% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Mount Yale Investment Advisors LLC bought a new position in shares of Newmont Mining in the first quarter worth approximately $115,000. Private Capital Group LLC grew its holdings in shares of Newmont Mining by 177.0% in the first quarter. Private Capital Group LLC now owns 3,028 shares of the basic materials company’s stock worth $118,000 after purchasing an additional 1,935 shares during the last quarter. Signaturefd LLC bought a new position in shares of Newmont Mining in the first quarter worth approximately $152,000. Stephens Inc. AR bought a new position in shares of Newmont Mining in the first quarter worth approximately $219,000. Finally, Gables Capital Management Inc. bought a new position in shares of Newmont Mining in the first quarter worth approximately $227,000. Hedge funds and other institutional investors own 82.78% of the company’s stock.
Shares of NEM stock traded down $0.11 during trading hours on Friday, hitting $30.13. 4,466,907 shares of the company’s stock were exchanged, compared to its average volume of 5,873,012. The company has a market capitalization of $16.13 billion, a PE ratio of 20.64 and a beta of 0.18. Newmont Mining has a 12-month low of $29.85 and a 12-month high of $42.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.95 and a current ratio of 4.60.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 27th. Stockholders of record on Thursday, September 13th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Wednesday, September 12th. Newmont Mining’s dividend payout ratio is 38.36%.
About Newmont Mining
Newmont Mining Corporation, together with its subsidiaries, operates in the mining industry. The company primarily acquires, develops, explores for, and produces gold, copper, and silver. Its operations and/or assets are located in the United States, Australia, Peru, Ghana, and Suriname. As of February 22, 2018, the company had proven and probable gold reserves of 68.5 million ounces and an aggregate land position of approximately 23,000 square miles.
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