Newmont (NYSE:NEM) Announces Earnings Results

Newmont (NYSE:NEM) released its quarterly earnings results on Wednesday. The basic materials company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.10, Briefing.com reports. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.13 billion. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. Newmont’s quarterly revenue was up 64.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.33 EPS.

Newmont Stock Down 4.2 %

Shares of Newmont stock traded down $2.00 on Thursday, reaching $45.70. The company’s stock had a trading volume of 12,534,132 shares, compared to its average volume of 11,340,813. The company has a market capitalization of $52.70 billion, a price-to-earnings ratio of -17.12, a P/E/G ratio of 0.37 and a beta of 0.47. The company has a quick ratio of 1.90, a current ratio of 2.15 and a debt-to-equity ratio of 0.32. Newmont has a 52 week low of $29.42 and a 52 week high of $48.97. The firm’s fifty day simple moving average is $43.28 and its two-hundred day simple moving average is $38.68.

Insider Activity at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 13,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $42.13, for a total transaction of $547,690.00. Following the transaction, the chief executive officer now owns 331,469 shares in the company, valued at approximately $13,964,788.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Bank of America upped their price target on Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. TD Securities upped their price target on Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a research report on Friday, April 26th. StockNews.com raised Newmont from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. BMO Capital Markets increased their target price on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Jefferies Financial Group increased their target price on Newmont from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.00.

Newmont Company Profile

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.