Newmont (NEM) to Release Earnings on Thursday

Newmont (NYSE:NEM) is scheduled to be posting its quarterly earnings results before the market opens on Thursday, April 25th. Analysts expect Newmont to post earnings of $0.32 per share for the quarter. Investors interested in listening to the company’s 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 EPS 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 company had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.44 billion. During the same quarter last year, the company earned $0.44 earnings per share. The company’s revenue for the quarter 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

NYSE:NEM opened at $38.56 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.25. The stock has a 50-day simple moving average of $34.59 and a two-hundred day simple moving average of $36.80. The firm has a market capitalization of $44.45 billion, a PE ratio of -16.20, a P/E/G ratio of 1.03 and a beta of 0.50. Newmont has a 52-week low of $29.42 and a 52-week high of $50.18.

Newmont Cuts Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Newmont by 43.8% during the fourth quarter. Vanguard Group Inc. now owns 118,749,913 shares of the basic materials company’s stock valued at $4,915,059,000 after purchasing an additional 36,170,985 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Newmont by 7.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,023,240 shares of the basic materials company’s stock valued at $1,034,697,000 after buying an additional 917,795 shares during the period. Morgan Stanley lifted its position in Newmont by 1.0% in the fourth quarter. Morgan Stanley now owns 9,135,415 shares of the basic materials company’s stock worth $431,192,000 after buying an additional 94,108 shares during the last quarter. Legal & General Group Plc boosted its stake in Newmont by 27.1% during the fourth quarter. Legal & General Group Plc now owns 8,225,247 shares of the basic materials company’s stock worth $340,615,000 after buying an additional 1,754,854 shares during the period. Finally, Norges Bank bought a new position in Newmont during the fourth quarter valued at $332,897,000. Institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on NEM shares. Jefferies Financial Group assumed coverage on shares of Newmont in a report on Thursday, February 29th. They issued a “buy” rating and a $38.00 target price for the company. Royal Bank of Canada cut their target price on Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday, February 8th. National Bank Financial reissued an “outperform overweight” rating on shares of Newmont in a report on Monday, April 8th. Scotiabank cut their price objective on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. Finally, Citigroup lowered their target price on shares of Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Newmont presently has a consensus rating of “Hold” and an average price target of $51.97.

About Newmont

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.