Newmont (NEM) to Release Quarterly Earnings on Thursday

Newmont (NYSE:NEM) is scheduled to be releasing its earnings data before the market opens on Thursday, April 25th. Analysts expect Newmont to post earnings of $0.32 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.01). Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The business had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.44 billion. During the same period last year, the business posted $0.44 earnings per share. The business’s revenue was up 23.7% on a year-over-year basis. On average, analysts expect Newmont to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Newmont Stock Performance

NEM stock opened at $38.56 on Thursday. The stock has a 50-day moving average price of $34.59 and a 200-day moving average price of $36.80. Newmont has a 1-year low of $29.42 and a 1-year high of $50.18. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. The firm has a market cap of $44.45 billion, a PE ratio of -16.20, a price-to-earnings-growth ratio of 1.03 and a beta of 0.50.

Newmont Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 5th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend was Monday, March 4th. Newmont’s dividend payout ratio (DPR) is presently -42.02%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Jefferies Financial Group assumed coverage on Newmont in a research report on Thursday, February 29th. They issued a “buy” rating and a $38.00 price objective for the company. Argus lowered Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Scotiabank dropped their price target on Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. StockNews.com downgraded Newmont from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. Finally, TD Securities dropped their price target on Newmont from $40.00 to $36.00 and set a “hold” rating on the stock in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.97.

Institutional Trading of Newmont

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Compass Wealth Management LLC bought a new stake in Newmont during the 4th quarter worth approximately $25,000. Quarry LP grew its holdings in shares of Newmont by 1,462.5% in the first quarter. Quarry LP now owns 625 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 585 shares in the last quarter. Point72 Europe London LLP bought a new position in shares of Newmont in the fourth quarter valued at approximately $45,000. SRS Capital Advisors Inc. grew its holdings in shares of Newmont by 747.1% in the first quarter. SRS Capital Advisors Inc. now owns 1,008 shares of the basic materials company’s stock valued at $49,000 after acquiring an additional 889 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Newmont in the first quarter valued at approximately $50,000. 68.85% of the stock is owned by institutional investors.

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, Papua New Guinea, Ecuador, Fiji, and Ghana.