FY2022 EPS Estimates for Newmont Co. (NYSE:NEM) Raised by Analyst
Newmont Co. (NYSE:NEM) – Analysts at Jefferies Financial Group boosted their FY2022 earnings estimates for shares of Newmont in a research report issued on Monday, January 4th. Jefferies Financial Group analyst C. Lafemina now anticipates that the basic materials company will post earnings per share of $5.01 for the year, up from their prior estimate of $4.98. Jefferies Financial Group also issued estimates for Newmont’s FY2025 earnings at $3.68 EPS.
A number of other equities research analysts have also recently issued reports on NEM. Zacks Investment Research cut 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. TD Securities boosted their price objective on Newmont from $85.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, December 9th. ValuEngine downgraded shares of Newmont from a “hold” rating to a “sell” rating in a research report on Wednesday, November 18th. BidaskClub upgraded shares of Newmont from a “strong sell” rating to a “sell” rating in a research report on Thursday. Finally, Raymond James lifted their price target on shares of Newmont from $88.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, December 9th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $72.51.
Shares of NYSE:NEM opened at $65.14 on Wednesday. Newmont has a 12-month low of $33.00 and a 12-month high of $72.22. The stock has a market cap of $52.33 billion, a PE ratio of 20.48 and a beta of 0.15. The business has a 50 day moving average of $60.06 and a 200-day moving average of $62.98. The company has a quick ratio of 2.47, a current ratio of 2.83 and a debt-to-equity ratio of 0.26.
Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, October 29th. The basic materials company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.07. Newmont had a return on equity of 7.37% and a net margin of 23.19%. The company had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter in the previous year, the company posted $0.36 earnings per share. The business’s revenue was up 16.8% on a year-over-year basis.
Large investors have recently made changes to their positions in the company. Lombard Odier Asset Management Switzerland SA increased its holdings in shares of Newmont by 31.5% during the third quarter. Lombard Odier Asset Management Switzerland SA now owns 42,704 shares of the basic materials company’s stock worth $2,710,000 after buying an additional 10,230 shares in the last quarter. Recurrent Investment Advisors LLC bought a new stake in shares of Newmont in the second quarter worth $710,000. Avantax Advisory Services Inc. grew its stake in shares of Newmont by 123.4% in the third quarter. Avantax Advisory Services Inc. now owns 16,712 shares of the basic materials company’s stock worth $1,062,000 after purchasing an additional 9,232 shares during the last quarter. Harbor Investment Advisory LLC grew its stake in shares of Newmont by 1,773.2% in the third quarter. Harbor Investment Advisory LLC now owns 768 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 727 shares during the last quarter. Finally, Orion Portfolio Solutions LLC grew its stake in shares of Newmont by 40.2% in the third quarter. Orion Portfolio Solutions LLC now owns 4,861 shares of the basic materials company’s stock worth $308,000 after purchasing an additional 1,395 shares during the last quarter. Institutional investors own 75.69% of the company’s stock.
In other news, CAO John Kitlen sold 2,000 shares of the company’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $63.25, for a total transaction of $126,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 35,742 shares in the company, valued at $2,260,681.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Nancy Buese sold 11,250 shares of the company’s stock in a transaction on Wednesday, December 30th. The stock was sold at an average price of $59.80, for a total transaction of $672,750.00. Following the transaction, the chief financial officer now owns 39,695 shares of the company’s stock, valued at $2,373,761. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,815 shares of company stock valued at $2,958,618. Company insiders own 0.28% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 28th. Shareholders of record on Friday, December 11th were given a dividend of $0.40 per share. This is an increase from Newmont’s previous quarterly dividend of $0.25. This represents a $1.60 annualized dividend and a yield of 2.46%. The ex-dividend date was Thursday, December 10th. Newmont’s payout ratio is currently 121.21%.
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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