Newmont Mining Corp (NEM) Expected to Post Quarterly Sales of $1.92 Billion
Wall Street brokerages expect Newmont Mining Corp (NYSE:NEM) to report sales of $1.92 billion for the current quarter, Zacks reports. Three analysts have made estimates for Newmont Mining’s earnings, with estimates ranging from $1.88 billion to $1.95 billion. Newmont Mining reported sales of $1.79 billion during the same quarter last year, which indicates a positive year over year growth rate of 7.3%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, February 20th.
According to Zacks, analysts expect that Newmont Mining will report full year sales of $1.92 billion for the current year, with estimates ranging from $7.05 billion to $7.39 billion. For the next year, analysts anticipate that the business will report sales of $7.13 billion per share, with estimates ranging from $6.94 billion to $7.48 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Newmont Mining.
Newmont Mining (NYSE:NEM) last issued its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. Newmont Mining had a return on equity of 6.20% and a net margin of 1.18%. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the company earned $0.38 earnings per share. Newmont Mining’s quarterly revenue was up 4.9% compared to the same quarter last year.
In other Newmont Mining news, CEO Gary J. Goldberg sold 1,000 shares of Newmont Mining stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $36.44, for a total value of $36,440.00. Following the sale, the chief executive officer now owns 334,730 shares in the company, valued at $12,197,561.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Elaine J. Dorward-King sold 10,250 shares of Newmont Mining stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $38.27, for a total value of $392,267.50. Following the completion of the sale, the executive vice president now owns 82,114 shares in the company, valued at approximately $3,142,502.78. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,700 shares of company stock worth $1,038,458. 0.32% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of NEM. Janus Henderson Group PLC raised its position in Newmont Mining by 7,145.7% in the second quarter. Janus Henderson Group PLC now owns 5,273,545 shares of the basic materials company’s stock valued at $170,812,000 after purchasing an additional 5,200,763 shares during the period. First Eagle Investment Management LLC raised its position in Newmont Mining by 159.2% in the third quarter. First Eagle Investment Management LLC now owns 4,207,739 shares of the basic materials company’s stock valued at $157,832,000 after purchasing an additional 2,584,318 shares during the period. Vanguard Group Inc. raised its position in Newmont Mining by 2.6% in the second quarter. Vanguard Group Inc. now owns 54,285,832 shares of the basic materials company’s stock valued at $1,758,317,000 after purchasing an additional 1,360,916 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Newmont Mining in the third quarter valued at $44,652,000. Finally, Bank of New York Mellon Corp raised its position in Newmont Mining by 12.2% in the third quarter. Bank of New York Mellon Corp now owns 10,596,020 shares of the basic materials company’s stock valued at $397,458,000 after purchasing an additional 1,150,995 shares during the period. Institutional investors own 81.99% of the company’s stock.
Newmont Mining (NEM) traded down $0.52 during midday trading on Friday, hitting $35.40. The stock had a trading volume of 5,300,884 shares, compared to its average volume of 4,239,661. The stock has a market capitalization of $18,880.10, a P/E ratio of 25.47 and a beta of 0.10. Newmont Mining has a 1-year low of $30.40 and a 1-year high of $39.63. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.58 and a current ratio of 4.18.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Friday, December 8th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.30 dividend on an annualized basis and a yield of 0.85%. Newmont Mining’s payout ratio is 200.00%.
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Newmont Mining 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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