Brokerages expect that Newmont Goldcorp Corp (NYSE:NEM) will post earnings of $0.33 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Newmont Goldcorp’s earnings, with estimates ranging from $0.23 to $0.41. Newmont Goldcorp also reported earnings per share of $0.33 during the same quarter last year. The company is scheduled to announce its next quarterly earnings report on Thursday, October 24th.
According to Zacks, analysts expect that Newmont Goldcorp will report full year earnings of $1.20 per share for the current financial year, with EPS estimates ranging from $0.68 to $1.69. For the next year, analysts anticipate that the business will post earnings of $1.89 per share, with EPS estimates ranging from $1.55 to $2.10. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Newmont Goldcorp.
Newmont Goldcorp (NYSE:NEM) last issued its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.11). Newmont Goldcorp had a positive return on equity of 4.79% and a negative net margin of 1.03%. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same period in the prior year, the business earned $0.26 earnings per share. Newmont Goldcorp’s revenue for the quarter was up 35.8% compared to the same quarter last year.
Several equities research analysts recently weighed in on NEM shares. Zacks Investment Research downgraded Newmont Goldcorp from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. Raymond James reaffirmed an “outperform” rating and set a $47.00 price target on shares of Newmont Goldcorp in a report on Friday, April 26th. TheStreet raised Newmont Goldcorp from a “c+” rating to a “b-” rating in a report on Friday, July 5th. Citigroup raised Newmont Goldcorp from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a report on Thursday, May 23rd. Finally, Barclays reaffirmed a “buy” rating and set a $44.00 price target on shares of Newmont Goldcorp in a report on Sunday, August 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Newmont Goldcorp has a consensus rating of “Buy” and an average price target of $41.76.
In other news, VP John Kitlen sold 750 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $37.91, for a total value of $28,432.50. Following the completion of the transaction, the vice president now owns 42,673 shares in the company, valued at $1,617,733.43. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Stephen P. Gottesfeld sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $40.00, for a total value of $400,000.00. Following the completion of the transaction, the executive vice president now owns 194,404 shares of the company’s stock, valued at approximately $7,776,160. The disclosure for this sale can be found here. In the last three months, insiders sold 89,720 shares of company stock valued at $3,254,208. 0.44% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Advantage Investment Management LLC increased its position in shares of Newmont Goldcorp by 556.0% in the second quarter. Advantage Investment Management LLC now owns 656 shares of the basic materials company’s stock valued at $25,000 after buying an additional 556 shares in the last quarter. Sterling Investment Advisors Ltd. purchased a new position in shares of Newmont Goldcorp in the second quarter valued at $25,000. Valley National Advisers Inc. increased its position in shares of Newmont Goldcorp by 1,212.0% in the second quarter. Valley National Advisers Inc. now owns 656 shares of the basic materials company’s stock valued at $25,000 after buying an additional 606 shares in the last quarter. Edge Wealth Management LLC purchased a new position in shares of Newmont Goldcorp in the second quarter valued at $27,000. Finally, Parkside Financial Bank & Trust increased its position in shares of Newmont Goldcorp by 65.6% in the second quarter. Parkside Financial Bank & Trust now owns 760 shares of the basic materials company’s stock valued at $29,000 after buying an additional 301 shares in the last quarter. Institutional investors and hedge funds own 62.78% of the company’s stock.
Shares of NYSE NEM traded up $0.55 during mid-day trading on Thursday, hitting $38.52. 5,963,517 shares of the company were exchanged, compared to its average volume of 10,542,712. The company has a quick ratio of 1.38, a current ratio of 1.83 and a debt-to-equity ratio of 0.30. The stock has a 50 day simple moving average of $38.43 and a 200-day simple moving average of $35.03. Newmont Goldcorp has a 1-year low of $29.06 and a 1-year high of $40.33. The firm has a market cap of $31.53 billion, a price-to-earnings ratio of 28.53 and a beta of 0.03.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Wednesday, September 11th. Newmont Goldcorp’s dividend payout ratio (DPR) is currently 41.48%.
Newmont Goldcorp Company Profile
Newmont Mining Corporation, together with its subsidiaries, operates in the mining industry. The company primarily acquires, develops, explores for, and produces gold, copper, and silver. Its operations and/or assets are located in the United States, Australia, Peru, Ghana, and Suriname. As of December 31, 2018, the company had proven and probable gold reserves of 65.4 million ounces and an aggregate land position of approximately 24,000 square miles.
See Also: P/E Growth (PEG)
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