Analysts Anticipate Newmont Mining Corporation (NEM) Will Announce Quarterly Sales of $1.78 Billion
Equities analysts expect that Newmont Mining Corporation (NYSE:NEM) will post sales of $1.78 billion for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Newmont Mining Corporation’s earnings. The lowest sales estimate is $1.74 billion and the highest is $1.81 billion. Newmont Mining Corporation reported sales of $2.04 billion in the same quarter last year, which would suggest a negative year over year growth rate of 12.7%. The firm is expected to announce its next earnings results before the market opens on Tuesday, July 25th.
According to Zacks, analysts expect that Newmont Mining Corporation will report full-year sales of $1.78 billion for the current year, with estimates ranging from $6.93 billion to $7.10 billion. For the next fiscal year, analysts expect that the business will report sales of $7.02 billion per share, with estimates ranging from $6.86 billion to $7.14 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover Newmont Mining Corporation.
Newmont Mining Corporation (NYSE:NEM) last released its earnings results on Monday, April 24th. The basic materials company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.03. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Newmont Mining Corporation had a negative net margin of 8.70% and a positive return on equity of 6.24%. Newmont Mining Corporation’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period last year, the business earned $0.34 EPS.
Several equities analysts have commented on NEM shares. BMO Capital Markets reiterated a “buy” rating and issued a $40.00 price target on shares of Newmont Mining Corporation in a research note on Friday, April 21st. Deutsche Bank AG reiterated a “buy” rating and issued a $42.00 price target (down from $44.00) on shares of Newmont Mining Corporation in a research note on Sunday, June 25th. Royal Bank Of Canada reiterated a “hold” rating and issued a $39.00 price target on shares of Newmont Mining Corporation in a research note on Tuesday, May 30th. Credit Suisse Group reiterated a “buy” rating and issued a $47.00 price target on shares of Newmont Mining Corporation in a research note on Wednesday, June 14th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $34.00 price target on shares of Newmont Mining Corporation in a research note on Tuesday, March 28th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Newmont Mining Corporation presently has an average rating of “Buy” and an average target price of $41.28.
In related news, insider Gary J. Goldberg sold 1,000 shares of the stock in a transaction on Monday, May 1st. The stock was sold at an average price of $33.67, for a total transaction of $33,670.00. Following the completion of the sale, the insider now directly owns 334,730 shares of the company’s stock, valued at $11,270,359.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP E Randall Engel sold 5,700 shares of the stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $35.00, for a total value of $199,500.00. Following the sale, the executive vice president now directly owns 256,800 shares of the company’s stock, valued at $8,988,000. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,450 shares of company stock valued at $519,220. Corporate insiders own 0.32% of the company’s stock.
Several large investors have recently modified their holdings of the company. Advisory Services Network LLC bought a new stake in shares of Newmont Mining Corporation during the first quarter valued at $118,000. WFG Advisors LP increased its stake in shares of Newmont Mining Corporation by 83.5% in the first quarter. WFG Advisors LP now owns 3,748 shares of the basic materials company’s stock valued at $124,000 after buying an additional 1,706 shares in the last quarter. Acrospire Investment Management LLC increased its stake in shares of Newmont Mining Corporation by 88.5% in the first quarter. Acrospire Investment Management LLC now owns 4,900 shares of the basic materials company’s stock valued at $162,000 after buying an additional 2,300 shares in the last quarter. Westport Asset Management Inc. bought a new stake in shares of Newmont Mining Corporation during the fourth quarter valued at $188,000. Finally, Private Capital Advisors Inc. bought a new stake in shares of Newmont Mining Corporation during the first quarter valued at $202,000. 81.56% of the stock is owned by hedge funds and other institutional investors.
Newmont Mining Corporation (NYSE:NEM) traded down 0.759% during mid-day trading on Friday, reaching $32.035. 1,888,619 shares of the company were exchanged. Newmont Mining Corporation has a 1-year low of $30.19 and a 1-year high of $46.07. The stock has a 50-day moving average of $33.74 and a 200 day moving average of $34.13. The firm’s market capitalization is $17.08 billion.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 22nd. Stockholders of record on Thursday, June 8th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Tuesday, June 6th. Newmont Mining Corporation’s payout ratio is currently -16.81%.
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Newmont Mining Corporation Company Profile
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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