Newmont (NYSE:NEM) Announces Quarterly Earnings Results, Beats Expectations By $0.29 EPS

Newmont (NYSE:NEM) issued its quarterly earnings data on Thursday. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29, Zacks reports. The company had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%.

Newmont Stock Down 2.7 %

NEM traded down $1.31 during mid-day trading on Friday, reaching $46.78. 6,351,462 shares of the stock were exchanged, compared to its average volume of 9,116,329. Newmont has a 1 year low of $29.42 and a 1 year high of $58.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The stock has a market capitalization of $53.25 billion, a PE ratio of -30.72, a price-to-earnings-growth ratio of 0.40 and a beta of 0.52. The company has a 50 day moving average price of $41.46 and a two-hundred day moving average price of $46.47.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Raymond James cut their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, November 25th. Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Scotiabank cut their price target on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and cut their target price for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. Finally, Bernstein Bank lifted their target price on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and a consensus target price of $53.37.

Insiders Place Their Bets

In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $128,670.00. Following the sale, the executive vice president now directly owns 79,596 shares in the company, valued at approximately $3,413,872.44. The trade was a 3.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the transaction, the director now owns 52,070 shares of the company’s stock, valued at $2,082,800. This represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,154 shares of company stock valued at $1,166,843. Corporate insiders own 0.06% of the company’s stock.

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.