Brokerages expect that Newmont Mining Corporation (NYSE:NEM) will post earnings of $0.29 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Newmont Mining Corporation’s earnings, with estimates ranging from $0.25 to $0.35. Newmont Mining Corporation reported earnings per share of $0.51 during the same quarter last year, which suggests a negative year over year growth rate of 43.1%. The company is scheduled to announce its next quarterly earnings report on Wednesday, October 25th.

According to Zacks, analysts expect that Newmont Mining Corporation will report full year earnings of $1.25 per share for the current financial year, with EPS estimates ranging from $1.08 to $1.44. For the next year, analysts anticipate that the business will post earnings of $1.14 per share, with EPS estimates ranging from $0.72 to $1.80. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Newmont Mining Corporation.

Newmont Mining Corporation (NYSE:NEM) last issued its earnings results on Tuesday, July 25th. The basic materials company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.20. Newmont Mining Corporation had a negative net margin of 6.73% and a positive return on equity of 6.67%. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the firm posted $0.44 earnings per share. The business’s revenue was up 12.3% on a year-over-year basis.

NEM has been the subject of a number of recent research reports. Royal Bank Of Canada set a $41.00 price target on shares of Newmont Mining Corporation and gave the stock a “hold” rating in a research report on Monday, August 28th. Credit Suisse Group set a $45.00 price target on shares of Newmont Mining Corporation and gave the stock a “buy” rating in a report on Tuesday, July 18th. Jefferies Group LLC reissued a “hold” rating and issued a $35.00 price target (down previously from $37.00) on shares of Newmont Mining Corporation in a report on Friday, July 14th. Zacks Investment Research raised shares of Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a report on Monday, July 31st. Finally, Scotiabank lifted their target price on shares of Newmont Mining Corporation from $43.50 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $40.96.

ILLEGAL ACTIVITY NOTICE: This report was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this report on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark laws. The legal version of this report can be accessed at https://www.thecerbatgem.com/2017/09/04/zacks-brokerages-expect-newmont-mining-corporation-nem-to-announce-0-29-eps.html.

In related news, insider Gary J. Goldberg sold 1,000 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $31.80, for a total transaction of $31,800.00. Following the sale, the insider now directly owns 334,730 shares in the company, valued at approximately $10,644,414. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Thomas Ronald Palmer sold 1,250 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $31.80, for a total value of $39,750.00. Following the sale, the chief operating officer now owns 91,862 shares in the company, valued at $2,921,211.60. The disclosure for this sale can be found here. Insiders sold a total of 22,907 shares of company stock worth $803,461 over the last ninety days. Corporate insiders own 0.32% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. raised its holdings in shares of Newmont Mining Corporation by 23.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 67,558 shares of the basic materials company’s stock valued at $2,228,000 after buying an additional 12,979 shares during the period. Sprott Inc. raised its holdings in shares of Newmont Mining Corporation by 32.9% during the 1st quarter. Sprott Inc. now owns 533,078 shares of the basic materials company’s stock valued at $17,570,000 after buying an additional 131,897 shares during the period. Vanguard Group Inc. raised its holdings in shares of Newmont Mining Corporation by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 52,924,916 shares of the basic materials company’s stock valued at $1,744,405,000 after buying an additional 1,671,897 shares during the period. Cypress Capital Group purchased a new stake in shares of Newmont Mining Corporation during the 1st quarter valued at about $335,000. Finally, Xact Kapitalforvaltning AB raised its holdings in shares of Newmont Mining Corporation by 5.6% during the 1st quarter. Xact Kapitalforvaltning AB now owns 40,834 shares of the basic materials company’s stock valued at $1,346,000 after buying an additional 2,164 shares during the period. Institutional investors and hedge funds own 81.08% of the company’s stock.

Newmont Mining Corporation (NYSE NEM) traded up 0.83% on Monday, hitting $38.66. 3,958,502 shares of the stock traded hands. Newmont Mining Corporation has a 12 month low of $30.19 and a 12 month high of $42.69. The company’s market capitalization is $20.62 billion. The firm has a 50-day moving average price of $36.20 and a 200-day moving average price of $34.39.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th will be paid a $0.075 dividend. This is a positive change from Newmont Mining Corporation’s previous quarterly dividend of $0.05. This represents a $0.30 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Wednesday, September 13th. Newmont Mining Corporation’s payout ratio is currently -22.22%.

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.

Get a free copy of the Zacks research report on Newmont Mining Corporation (NEM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Stock Ratings for Newmont Mining Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmont Mining Corporation and related stocks with our FREE daily email newsletter.