Newmont Mining (NYSE:NEM) issued its quarterly earnings results on Thursday. The basic materials company reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.17, MarketWatch Earnings reports. Newmont Mining had a negative net margin of 2.63% and a positive return on equity of 6.19%. The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the prior year, the business earned $0.39 EPS. Newmont Mining’s quarterly revenue was up 5.8% compared to the same quarter last year.
NYSE:NEM opened at $35.41 on Friday. The firm has a market cap of $18.85 billion, a PE ratio of 24.25 and a beta of 0.05. Newmont Mining has a 12 month low of $29.06 and a 12 month high of $41.98. The company has a debt-to-equity ratio of 0.36, a current ratio of 4.70 and a quick ratio of 4.02.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 21st. Investors of record on Thursday, March 7th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Wednesday, March 6th. Newmont Mining’s payout ratio is 38.36%.
NEM has been the subject of a number of recent research reports. ValuEngine downgraded shares of Newmont Mining from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Canaccord Genuity upgraded shares of Newmont Mining from a “hold” rating to a “buy” rating and boosted their target price for the company from $37.00 to $42.00 in a research note on Tuesday, January 15th. Zacks Investment Research raised shares of Newmont Mining from a “sell” rating to a “hold” rating in a report on Wednesday, November 14th. Raymond James upped their price target on shares of Newmont Mining from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, November 9th. Finally, Credit Suisse Group set a $49.00 target price on Newmont Mining and gave the stock a “buy” rating in a research report on Friday, November 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $41.31.
In other news, insider Thomas Ronald Palmer sold 1,250 shares of the firm’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $32.88, for a total value of $41,100.00. Following the completion of the sale, the insider now owns 129,110 shares in the company, valued at approximately $4,245,136.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Elaine J. Dorward-King sold 3,000 shares of the stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $32.88, for a total transaction of $98,640.00. Following the completion of the transaction, the executive vice president now owns 96,831 shares of the company’s stock, valued at approximately $3,183,803.28. The disclosure for this sale can be found here. Insiders sold 32,750 shares of company stock valued at $1,113,450 in the last ninety days. 0.36% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in shares of Newmont Mining by 9.2% in the 4th quarter. BlackRock Inc. now owns 79,175,130 shares of the basic materials company’s stock valued at $2,743,419,000 after purchasing an additional 6,689,349 shares during the period. Vanguard Group Inc boosted its holdings in Newmont Mining by 1.1% in the third quarter. Vanguard Group Inc now owns 57,312,640 shares of the basic materials company’s stock valued at $1,730,842,000 after acquiring an additional 620,141 shares during the last quarter. Flossbach Von Storch AG boosted its holdings in Newmont Mining by 4.8% during the fourth quarter. Flossbach Von Storch AG now owns 14,181,862 shares of the basic materials company’s stock worth $491,402,000 after buying an additional 652,400 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of Newmont Mining by 22.5% during the 3rd quarter. First Eagle Investment Management LLC now owns 11,705,007 shares of the basic materials company’s stock valued at $353,491,000 after purchasing an additional 2,153,531 shares in the last quarter. Finally, FMR LLC raised its position in Newmont Mining by 31.9% in the 3rd quarter. FMR LLC now owns 9,763,576 shares of the basic materials company’s stock valued at $294,860,000 after buying an additional 2,359,109 shares during the last quarter. 84.58% of the stock is owned by institutional investors and hedge funds.
About Newmont Mining
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 February 22, 2018, the company had proven and probable gold reserves of 68.5 million ounces and an aggregate land position of approximately 23,000 square miles.
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