Newmont Mining Corp (NEM) Expected to Post Quarterly Sales of $1.92 Billion
Analysts expect that Newmont Mining Corp (NYSE:NEM) will announce sales of $1.92 billion for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Newmont Mining’s earnings, with estimates ranging from $1.88 billion to $1.95 billion. Newmont Mining posted sales of $1.79 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 7.3%. The company is scheduled to issue its next earnings results before the market opens on Thursday, February 22nd.
On average, analysts expect that Newmont Mining will report full-year sales of $1.92 billion for the current fiscal year, with estimates ranging from $7.05 billion to $7.40 billion. For the next financial year, analysts forecast that the company will report sales of $7.15 billion per share, with estimates ranging from $6.94 billion to $7.48 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Newmont Mining.
Newmont Mining (NYSE:NEM) last released its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.02. Newmont Mining had a net margin of 1.18% and a return on equity of 6.20%. The company had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the company earned $0.38 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year.
Newmont Mining (NYSE NEM) traded up $0.96 during mid-day trading on Friday, reaching $39.79. 5,070,000 shares of the company’s stock were exchanged, compared to its average volume of 4,830,000. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.18 and a quick ratio of 3.58. Newmont Mining has a one year low of $31.42 and a one year high of $39.84. The company has a market capitalization of $21,220.00, a PE ratio of 56.84 and a beta of 0.10.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Friday, December 8th were given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Thursday, December 7th. Newmont Mining’s dividend payout ratio (DPR) is presently 42.86%.
In related news, CEO Gary J. Goldberg sold 1,000 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $36.44, for a total value of $36,440.00. Following the completion of the transaction, the chief executive officer now owns 334,730 shares of the company’s stock, valued at $12,197,561.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Thomas Ronald Palmer sold 1,250 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $37.89, for a total transaction of $47,362.50. The disclosure for this sale can be found here. Insiders sold 27,700 shares of company stock valued at $1,020,676 in the last three months. Company insiders own 0.32% of the company’s stock.
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 worth $170,812,000 after purchasing an additional 5,200,763 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Newmont Mining by 159.2% during the third quarter. First Eagle Investment Management LLC now owns 4,207,739 shares of the basic materials company’s stock worth $157,832,000 after buying an additional 2,584,318 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Newmont Mining by 2.6% during the second quarter. Vanguard Group Inc. now owns 54,285,832 shares of the basic materials company’s stock worth $1,758,317,000 after buying an additional 1,360,916 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Newmont Mining during the third quarter worth approximately $44,652,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Newmont Mining by 12.2% during the third quarter. Bank of New York Mellon Corp now owns 10,596,020 shares of the basic materials company’s stock worth $397,458,000 after buying an additional 1,150,995 shares in the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.
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About Newmont Mining
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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