$1.92 Billion in Sales Expected for Newmont Mining Corporation (NEM) This Quarter

Equities research analysts predict that Newmont Mining Corporation (NYSE:NEM) will post sales of $1.92 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Newmont Mining Corporation’s earnings. The lowest sales estimate is $1.88 billion and the highest is $1.95 billion. Newmont Mining Corporation posted sales of $1.79 billion during the same quarter last year, which would indicate a positive year over year growth rate of 7.3%. The firm is expected to report its next quarterly earnings report on Tuesday, February 20th.

On average, analysts expect that Newmont Mining Corporation will report full year sales of $1.92 billion for the current fiscal year, with estimates ranging from $7.05 billion to $7.39 billion. For the next year, analysts forecast that the business will report sales of $7.14 billion per share, with estimates ranging from $6.94 billion to $7.58 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Newmont Mining Corporation.

Newmont Mining Corporation (NYSE:NEM) last released its earnings results on Thursday, October 26th. The basic materials company reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.02. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.86 billion. Newmont Mining Corporation had a return on equity of 6.20% and a net margin of 1.18%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.38 earnings per share.

Several brokerages have commented on NEM. TheStreet upgraded Newmont Mining Corporation from a “c+” rating to a “b” rating in a research note on Wednesday, October 11th. Zacks Investment Research upgraded Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Wednesday, October 18th. Royal Bank Of Canada set a $41.00 target price on Newmont Mining Corporation and gave the company a “hold” rating in a research note on Monday, August 28th. TD Securities set a $42.00 target price on Newmont Mining Corporation and gave the company a “hold” rating in a research note on Thursday, October 19th. Finally, Argus upgraded Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Newmont Mining Corporation currently has a consensus rating of “Hold” and a consensus price target of $40.83.

Shares of Newmont Mining Corporation (NEM) opened at $36.37 on Wednesday. The company has a market capitalization of $19,400.00, a PE ratio of 26.14 and a beta of 0.11. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.58 and a current ratio of 4.18. Newmont Mining Corporation has a 12 month low of $30.40 and a 12 month high of $39.63.

The business also recently declared 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 dividend yield of 0.82%. The ex-dividend date is Thursday, December 7th. Newmont Mining Corporation’s dividend payout ratio (DPR) is 42.86%.

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In other news, COO Thomas Ronald Palmer sold 1,250 shares of Newmont Mining Corporation stock in a transaction on Friday, September 1st. The stock was sold at an average price of $38.60, for a total transaction of $48,250.00. Following the transaction, the chief operating officer now directly owns 89,362 shares in the company, valued at approximately $3,449,373.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Gary J. Goldberg sold 1,000 shares of Newmont Mining Corporation stock in a transaction on Friday, September 1st. The shares were sold at an average price of $38.60, for a total value of $38,600.00. Following the transaction, the insider now owns 334,730 shares in the company, valued at $12,920,578. The disclosure for this sale can be found here. Insiders have sold a total of 27,700 shares of company stock worth $1,042,103 in the last ninety days. 0.32% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the company. Smith Affiliated Capital Corp. increased its position in shares of Newmont Mining Corporation by 8.6% during the 2nd quarter. Smith Affiliated Capital Corp. now owns 3,800 shares of the basic materials company’s stock valued at $123,000 after purchasing an additional 300 shares during the period. Sun Life Financial INC increased its position in shares of Newmont Mining Corporation by 43,144.4% during the 2nd quarter. Sun Life Financial INC now owns 3,892 shares of the basic materials company’s stock valued at $126,000 after purchasing an additional 3,883 shares during the period. Parametrica Management Ltd acquired a new position in shares of Newmont Mining Corporation during the 3rd quarter valued at $222,000. Timber Hill LLC acquired a new position in shares of Newmont Mining Corporation during the 3rd quarter valued at $260,000. Finally, Veritable L.P. increased its position in shares of Newmont Mining Corporation by 4.6% during the 2nd quarter. Veritable L.P. now owns 8,473 shares of the basic materials company’s stock valued at $274,000 after purchasing an additional 370 shares during the period. Institutional investors own 80.11% of the company’s stock.

Newmont Mining Corporation Company Profile

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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Earnings History and Estimates for Newmont Mining Corporation (NYSE:NEM)

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