$1.84 Billion in Sales Expected for Newmont Mining Corp (NEM) This Quarter
Equities research analysts forecast that Newmont Mining Corp (NYSE:NEM) will report $1.84 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Newmont Mining’s earnings, with estimates ranging from $1.77 billion to $1.90 billion. Newmont Mining reported sales of $1.88 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 2.1%. The business is expected to announce its next earnings results on Tuesday, July 24th.
On average, analysts expect that Newmont Mining will report full-year sales of $7.50 billion for the current fiscal year, with estimates ranging from $7.35 billion to $7.84 billion. For the next year, analysts anticipate that the business will report sales of $7.68 billion per share, with estimates ranging from $7.37 billion to $8.33 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Newmont Mining.
Newmont Mining (NYSE:NEM) last announced its quarterly earnings results on Thursday, April 26th. The basic materials company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. Newmont Mining had a return on equity of 7.01% and a net margin of 0.64%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the firm posted $0.09 earnings per share. The firm’s revenue was up 7.5% on a year-over-year basis.
In other news, COO Thomas Ronald Palmer sold 1,250 shares of the firm’s stock in a transaction on Friday, June 1st. The stock was sold at an average price of $38.88, for a total transaction of $48,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gary J. Goldberg sold 4,000 shares of the firm’s stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $39.31, for a total value of $157,240.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,000 shares of company stock valued at $935,890. 0.36% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of NEM. Private Capital Group LLC increased its holdings in shares of Newmont Mining by 177.0% during the first quarter. Private Capital Group LLC now owns 3,028 shares of the basic materials company’s stock valued at $118,000 after acquiring an additional 1,935 shares in the last quarter. Summit Trail Advisors LLC increased its holdings in shares of Newmont Mining by 4,127.4% during the first quarter. Summit Trail Advisors LLC now owns 127,624 shares of the basic materials company’s stock valued at $128,000 after acquiring an additional 124,605 shares in the last quarter. Premia Global Advisors LLC bought a new position in shares of Newmont Mining during the fourth quarter valued at $139,000. Signaturefd LLC bought a new position in shares of Newmont Mining during the first quarter valued at $152,000. Finally, Stephens Inc. AR bought a new position in shares of Newmont Mining during the first quarter valued at $219,000. Hedge funds and other institutional investors own 82.25% of the company’s stock.
NEM stock traded up $0.03 on Friday, reaching $38.43. The company’s stock had a trading volume of 3,530,515 shares, compared to its average volume of 5,011,116. Newmont Mining has a 12-month low of $31.42 and a 12-month high of $42.04. The firm has a market capitalization of $20.49 billion, a price-to-earnings ratio of 26.32 and a beta of 0.28. The company has a quick ratio of 3.62, a current ratio of 4.18 and a debt-to-equity ratio of 0.35.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 21st. Shareholders of record on Thursday, June 7th will be issued a $0.14 dividend. The ex-dividend date is Wednesday, June 6th. This represents a $0.56 dividend on an annualized basis and a yield of 1.46%. Newmont Mining’s dividend payout ratio (DPR) is 38.36%.
Newmont Mining 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 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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