Equities analysts forecast that Newmont Co. (NYSE:NEM) will report sales of $3.31 billion for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Newmont’s earnings. The lowest sales estimate is $3.25 billion and the highest is $3.38 billion. Newmont reported sales of $3.17 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.4%. The company is scheduled to announce its next earnings report before the market opens on Thursday, October 28th.
On average, analysts expect that Newmont will report full-year sales of $12.75 billion for the current year, with estimates ranging from $12.45 billion to $13.14 billion. For the next year, analysts forecast that the company will report sales of $12.81 billion, with estimates ranging from $12.41 billion to $13.10 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Newmont.
Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, July 22nd. The basic materials company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The business had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3.11 billion. Newmont had a net margin of 23.00% and a return on equity of 11.78%. The business’s revenue was up 29.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 earnings per share.
In other news, CEO Thomas Ronald Palmer sold 7,000 shares of the business’s stock in a transaction on Friday, October 1st. The shares were sold at an average price of $54.65, for a total value of $382,550.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Blake Rhodes sold 500 shares of the business’s stock in a transaction on Monday, October 4th. The shares were sold at an average price of $55.00, for a total transaction of $27,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 21,588 shares of company stock worth $1,177,877. Insiders own 0.12% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. FormulaFolio Investments LLC acquired a new position in Newmont during the 1st quarter worth about $34,000. Aspire Private Capital LLC lifted its position in Newmont by 3,592.9% during the 1st quarter. Aspire Private Capital LLC now owns 517 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 503 shares during the period. Strategic Blueprint LLC bought a new position in shares of Newmont in the 2nd quarter valued at about $37,000. Bbva USA acquired a new stake in shares of Newmont during the 2nd quarter worth approximately $38,000. Finally, Mizuho Securities Co. Ltd. bought a new position in shares of Newmont in the 1st quarter worth $36,000. Institutional investors and hedge funds own 77.76% of the company’s stock.
NEM stock traded up $1.47 during trading on Monday, reaching $57.84. 460,628 shares of the company were exchanged, compared to its average volume of 6,506,893. The company has a market cap of $46.22 billion, a P/E ratio of 16.14 and a beta of 0.23. Newmont has a 52-week low of $53.03 and a 52-week high of $75.31. The stock’s 50 day moving average price is $56.63 and its 200 day moving average price is $62.43. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.33 and a current ratio of 2.67.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 23rd. Stockholders of record on Thursday, September 9th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend was Wednesday, September 8th. Newmont’s dividend payout ratio is 82.71%.
Newmont Company Profile
Newmont Corp. is a gold producer, which engages in the production of gold. It operates through the following geographical segments: North America, South America, Nevada, Australia, and Africa. The North America segment consists primarily of carlin, phoenix, twin creeks and long canyon in the state of Nevada and Cripple Creek and Victor in the state of Colorado, in the United States.
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