Jefferies Group Analysts Increase Earnings Estimates for Newmont Mining Corp. (NEM)
Newmont Mining Corp. (NYSE:NEM) – Jefferies Group increased their FY2017 earnings estimates for Newmont Mining Corp. in a report issued on Friday. Jefferies Group analyst C. Lafemina now forecasts that the brokerage will post earnings of $1.88 per share for the year, up from their previous estimate of $1.87. Jefferies Group currently has a “Hold” rating and a $42.00 target price on the stock.
Newmont Mining Corp. (NYSE:NEM) last released its quarterly earnings data on Wednesday, July 20th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.14. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.94 billion. Newmont Mining Corp. had a return on equity of 3.89% and a net margin of 0.51%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the business posted $0.26 EPS.
A number of other analysts have also recently weighed in on the company. Barclays PLC reaffirmed a “buy” rating and issued a $45.00 price target on shares of Newmont Mining Corp. in a research report on Monday. Zacks Investment Research raised Newmont Mining Corp. from a “hold” rating to a “strong-buy” rating and set a $44.00 price target for the company in a research report on Tuesday, October 4th. Vetr cut Newmont Mining Corp. from a “strong-buy” rating to a “buy” rating and set a $45.64 price target for the company. in a research report on Wednesday, September 21st. Credit Suisse Group AG reissued a “buy” rating on shares of Newmont Mining Corp. in a research report on Monday, September 19th. Finally, Citigroup Inc. reissued a “buy” rating on shares of Newmont Mining Corp. in a research report on Thursday, August 18th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of C$37.47.
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Newmont Mining Corp. (NYSE:NEM) opened at 34.23 on Monday. Newmont Mining Corp. has a 12-month low of $16.05 and a 12-month high of $46.07. The stock has a market capitalization of $18.16 billion, a P/E ratio of 462.57 and a beta of 0.25. The stock has a 50 day moving average price of $38.22 and a 200-day moving average price of $36.87.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th were issued a $0.025 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $0.10 annualized dividend and a yield of 0.29%. Newmont Mining Corp.’s dividend payout ratio (DPR) is 166.69%.
In other news, EVP Scott P. Lawson sold 4,700 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of C$40.35, for a total value of C$189,645.00. Following the sale, the executive vice president now directly owns 46,295 shares in the company, valued at approximately C$1,868,003.25. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP William N. Macgowan sold 8,135 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of C$44.95, for a total value of C$365,668.25. Following the completion of the sale, the executive vice president now owns 98,779 shares in the company, valued at C$4,440,116.05. The disclosure for this sale can be found here. 0.22% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Anchor Bolt Capital LP bought a new stake in Newmont Mining Corp. during the first quarter valued at $62,435,000. Jacobs Levy Equity Management Inc. bought a new stake in Newmont Mining Corp. during the first quarter valued at $621,000. AMP Capital Investors Ltd raised its stake in Newmont Mining Corp. by 81.0% in the first quarter. AMP Capital Investors Ltd now owns 280,189 shares of the company’s stock valued at $7,495,000 after buying an additional 125,384 shares in the last quarter. Prudential PLC raised its stake in Newmont Mining Corp. by 17.6% in the first quarter. Prudential PLC now owns 2,809,660 shares of the company’s stock valued at $74,681,000 after buying an additional 419,968 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Newmont Mining Corp. by 6.7% in the first quarter. Geode Capital Management LLC now owns 4,926,571 shares of the company’s stock valued at $130,714,000 after buying an additional 309,089 shares in the last quarter. Institutional investors own 79.78% of the company’s stock.
Newmont Mining Corp. Company Profile
Newmont Mining Corporation is a global 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, Indonesia, Ghana and Suriname. Its segments are North America, South America, Asia Pacific and Africa.
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