March 26, 2024

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$1.03 Earnings Per Share Expected for Newmont Co. (NYSE:NEM) This Quarter

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Equities analysts predict that Newmont Co. (NYSE:NEM) will report earnings per share (EPS) of $1.03 for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Newmont’s earnings. The lowest EPS estimate is $0.97 and the highest is $1.16. Newmont reported earnings per share of $0.50 during the same quarter last year, which indicates a positive year over year growth rate of 106%. The company is scheduled to announce its next earnings report on Thursday, February 18th.

According to Zacks, analysts expect that Newmont will report full-year earnings of $2.59 per share for the current financial year, with EPS estimates ranging from $2.43 to $2.75. For the next fiscal year, analysts anticipate that the firm will post earnings of $4.27 per share, with EPS estimates ranging from $3.98 to $4.61. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Newmont.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, October 29th. The basic materials company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.07. Newmont had a net margin of 23.19% and a return on equity of 7.37%. The company had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the previous year, the company posted $0.36 earnings per share. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year.

NEM has been the subject of several research analyst reports. BidaskClub downgraded shares of Newmont from a “sell” rating to a “strong sell” rating in a report on Wednesday, December 16th. Zacks Investment Research downgraded shares of Newmont from a “buy” rating to a “hold” rating and set a $62.00 price objective for the company. in a report on Wednesday, November 25th. ValuEngine downgraded shares of Newmont from a “hold” rating to a “sell” rating in a report on Wednesday, November 18th. Raymond James upped their price objective on shares of Newmont from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, December 9th. Finally, TD Securities upped their price objective on shares of Newmont from $85.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, December 9th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $72.51.

NEM stock traded up $0.43 during trading on Thursday, hitting $60.25. The company had a trading volume of 148,531 shares, compared to its average volume of 7,936,779. The firm has a market capitalization of $48.38 billion, a price-to-earnings ratio of 18.81 and a beta of 0.15. The business has a 50 day moving average of $60.98 and a 200 day moving average of $62.74. Newmont has a fifty-two week low of $33.00 and a fifty-two week high of $72.22. The company has a current ratio of 2.83, a quick ratio of 2.47 and a debt-to-equity ratio of 0.26.

In other Newmont news, EVP E Randall Engel sold 5,000 shares of the business’s stock in a transaction dated Wednesday, October 14th. The stock was sold at an average price of $63.40, for a total transaction of $317,000.00. Following the sale, the executive vice president now owns 279,341 shares in the company, valued at approximately $17,710,219.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO John Kitlen sold 2,000 shares of the business’s stock in a transaction dated Monday, December 7th. The stock was sold at an average price of $59.72, for a total value of $119,440.00. Following the sale, the chief accounting officer now owns 33,742 shares in the company, valued at approximately $2,015,072.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,565 shares of company stock worth $2,299,827. 0.28% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Contravisory Investment Management Inc. acquired a new stake in Newmont during the 3rd quarter worth about $26,000. Hexagon Capital Partners LLC acquired a new stake in Newmont during the 3rd quarter worth about $32,000. Clearstead Advisors LLC acquired a new stake in Newmont during the 3rd quarter worth about $33,000. Harbor Investment Advisory LLC increased its holdings in shares of Newmont by 1,773.2% in the 3rd quarter. Harbor Investment Advisory LLC now owns 768 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 727 shares during the period. Finally, Freestone Capital Holdings LLC acquired a new position in shares of Newmont in the 3rd quarter valued at about $57,000. Hedge funds and other institutional investors own 75.69% of the company’s stock.

About Newmont

Newmont Corporation engages in the production and exploration of gold, 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, and Ghana. As of December 31, 2019, it had proven and probable gold reserves of 100.2 million ounces and land position of 68,300 square kilometers.

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Earnings History and Estimates for Newmont (NYSE:NEM)



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