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

Newmont (NYSE:NEM) announced its quarterly earnings data on Thursday. The basic materials company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.29, Zacks reports. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%.

Newmont Price Performance

Shares of NEM traded up $0.69 during trading hours on Thursday, reaching $48.10. 13,514,077 shares of the company traded hands, compared to its average volume of 9,178,863. The stock has a market capitalization of $54.75 billion, a PE ratio of -31.64, a price-to-earnings-growth ratio of 0.40 and a beta of 0.52. The stock has a fifty day simple moving average of $41.33 and a 200 day simple moving average of $46.46. Newmont has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30.

Insider Activity at Newmont

In related news, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the transaction, the chief operating officer now owns 145,967 shares in the company, valued at approximately $5,838,680. This trade represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the sale, the director now directly owns 52,070 shares of the company’s stock, valued at approximately $2,082,800. This trade represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,154 shares of company stock valued at $1,166,843. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NEM has been the topic of several research analyst reports. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $67.00 to $54.00 in a research note on Wednesday, October 30th. Scotiabank lowered their target price on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. CLSA started coverage on shares of Newmont in a research report on Friday, November 29th. They set an “underperform” rating for the company. Finally, Royal Bank of Canada boosted their price target on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.37.

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.