National Bank Financial Weighs in on Newmont Co.’s Q1 2022 Earnings (NYSE:NEM)

Newmont Co. (NYSE:NEMGet Rating) – Stock analysts at National Bank Financial issued their Q1 2022 EPS estimates for Newmont in a research report issued on Tuesday, April 19th. National Bank Financial analyst M. Parkin forecasts that the basic materials company will post earnings per share of $0.63 for the quarter. National Bank Financial currently has a “Sector Perform” rating and a $94.28 price target on the stock. National Bank Financial also issued estimates for Newmont’s FY2023 earnings at $4.49 EPS.

NEM has been the subject of a number of other research reports. Bank of America boosted their price objective on shares of Newmont from $70.00 to $75.00 in a research report on Monday, February 28th. Jefferies Financial Group upped their price target on Newmont from $67.00 to $72.00 and gave the stock a “hold” rating in a research report on Wednesday, March 9th. Raymond James set a $82.00 price objective on Newmont and gave the stock an “outperform” rating in a research note on Wednesday, April 13th. Credit Suisse Group lowered shares of Newmont from an “outperform” rating to a “neutral” rating in a report on Tuesday. Finally, Scotiabank downgraded shares of Newmont from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $75.00 to $72.00 in a report on Monday, January 24th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $71.15.

Shares of NEM stock opened at $82.59 on Thursday. The company has a current ratio of 2.90, a quick ratio of 2.55 and a debt-to-equity ratio of 0.28. Newmont has a 12 month low of $52.60 and a 12 month high of $86.37. The stock has a market cap of $65.46 billion, a P/E ratio of 56.96 and a beta of 0.30. The company has a 50 day simple moving average of $75.30 and a two-hundred day simple moving average of $64.16.

Newmont (NYSE:NEMGet Rating) last released its quarterly earnings results on Thursday, February 24th. The basic materials company reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.02. The firm had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.38 billion. Newmont had a net margin of 9.54% and a return on equity of 10.19%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.06 EPS.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 24th. Shareholders of record on Thursday, March 10th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend was Wednesday, March 9th. Newmont’s payout ratio is currently 151.72%.

In other news, SVP Blake Rhodes sold 500 shares of the stock in a transaction that occurred on Tuesday, February 1st. The stock was sold at an average price of $62.00, for a total transaction of $31,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas Ronald Palmer sold 7,000 shares of the business’s stock in a transaction on Tuesday, February 1st. The stock was sold at an average price of $62.00, for a total transaction of $434,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 66,343 shares of company stock valued at $4,838,533 in the last three months. Insiders own 0.11% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of NEM. Vectors Research Management LLC purchased a new stake in Newmont during the fourth quarter valued at approximately $25,000. Rational Advisors LLC raised its holdings in Newmont by 133.7% during the 4th quarter. Rational Advisors LLC now owns 416 shares of the basic materials company’s stock valued at $26,000 after buying an additional 238 shares during the period. TFO TDC LLC bought a new stake in Newmont in the third quarter worth $27,000. Avondale Wealth Management purchased a new position in Newmont during the fourth quarter worth $28,000. Finally, Clearstead Advisors LLC bought a new position in Newmont during the third quarter valued at $29,000. 76.72% of the stock is currently owned by institutional investors.

Newmont Company Profile (Get Rating)

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, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.

See Also

Earnings History and Estimates for Newmont (NYSE:NEM)

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