Newmont Mining Corporation (NYSE:NEM) announced its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02, Bloomberg Earnings reports. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Newmont Mining Corporation had a net margin of 1.18% and a return on equity of 6.20%. Newmont Mining Corporation’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 earnings per share.
Newmont Mining Corporation (NEM) traded down $0.36 during mid-day trading on Friday, reaching $35.52. 4,663,100 shares of the company traded hands, compared to its average volume of 5,487,490. The firm has a market capitalization of $19,136.11, a P/E ratio of 25.81 and a beta of 0.11. Newmont Mining Corporation has a 1-year low of $30.19 and a 1-year high of $39.63. The company has a quick ratio of 3.58, a current ratio of 4.18 and a debt-to-equity ratio of 0.33.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Friday, December 8th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.84%. The ex-dividend date is Thursday, December 7th. Newmont Mining Corporation’s payout ratio is currently 200.00%.
A number of analysts have recently issued reports on NEM shares. FBR & Co set a $40.00 price objective on shares of Newmont Mining Corporation and gave the company a “hold” rating in a research note on Tuesday, October 31st. BidaskClub upgraded shares of Newmont Mining Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. TheStreet upgraded shares of Newmont Mining Corporation from a “c+” rating to a “b” rating in a research note on Wednesday, October 11th. Royal Bank of Canada reiterated a “hold” rating and set a $40.00 price objective on shares of Newmont Mining Corporation in a research note on Tuesday, July 18th. Finally, Zacks Investment Research lowered shares of Newmont Mining Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $40.50.
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In other Newmont Mining Corporation news, EVP Elaine J. Dorward-King sold 10,250 shares of the company’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $38.27, for a total value of $392,267.50. Following the completion of the sale, the executive vice president now directly owns 82,114 shares of the company’s stock, valued at approximately $3,142,502.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gary J. Goldberg sold 1,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $36.44, for a total transaction of $36,440.00. Following the completion of the sale, the chief executive officer now directly owns 334,730 shares of the company’s stock, valued at $12,197,561.20. The disclosure for this sale can be found here. Insiders sold 27,700 shares of company stock valued at $1,042,103 in the last ninety days. Corporate insiders own 0.32% of the company’s stock.
About Newmont Mining Corporation
Newmont Mining Corporation is a mining company, which is focused on the production of and exploration for gold and copper. The Company is primarily a gold producer with operations and/or assets in the United States, Australia, Peru, Ghana and Suriname. The Company’s segments include North America, South America, Asia Pacific and Africa.
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