Newmont Co. (NYSE:NEM) to Post Q2 2021 Earnings of $0.72 Per Share, Raymond James Forecasts
Newmont Co. (NYSE:NEM) – Raymond James reduced their Q2 2021 earnings estimates for shares of Newmont in a research report issued to clients and investors on Monday, April 5th. Raymond James analyst B. Macarthur now expects that the basic materials company will post earnings of $0.72 per share for the quarter, down from their previous forecast of $0.93. Raymond James has a “Outperform” rating and a $78.00 price objective on the stock. Raymond James also issued estimates for Newmont’s Q3 2021 earnings at $0.86 EPS, Q4 2021 earnings at $0.93 EPS, FY2021 earnings at $3.25 EPS, Q1 2022 earnings at $0.70 EPS, Q3 2022 earnings at $0.78 EPS and Q4 2022 earnings at $0.80 EPS.
Other equities analysts also recently issued reports about the company. Citigroup dropped their price objective on Newmont from $70.00 to $66.00 in a research note on Friday, February 19th. National Bank Financial restated an “outperform” rating on shares of Newmont in a research report on Tuesday, February 2nd. Zacks Investment Research raised shares of Newmont from a “sell” rating to a “hold” rating and set a $60.00 price objective on the stock in a research note on Thursday, February 25th. TD Securities cut their target price on shares of Newmont from $78.00 to $74.00 and set a “buy” rating for the company in a research report on Friday, February 26th. Finally, Fundamental Research lowered their price target on shares of Newmont from $74.35 to $69.96 and set a “buy” rating on the stock in a research report on Friday, February 19th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Newmont has an average rating of “Buy” and an average price target of $71.92.
Newmont (NYSE:NEM) last announced its quarterly earnings data on Wednesday, February 17th. The basic materials company reported $1.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.11. Newmont had a net margin of 23.19% and a return on equity of 7.37%. During the same period in the previous year, the business earned $0.50 earnings per share.
Institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp increased its stake in Newmont by 5.9% during the fourth quarter. Van ECK Associates Corp now owns 38,024,490 shares of the basic materials company’s stock worth $2,277,287,000 after acquiring an additional 2,105,656 shares during the last quarter. Boenning & Scattergood Inc. increased its position in Newmont by 31.1% during the 4th quarter. Boenning & Scattergood Inc. now owns 13,495 shares of the basic materials company’s stock worth $808,000 after purchasing an additional 3,201 shares in the last quarter. RWC Asset Management LLP increased its position in Newmont by 9.9% during the 4th quarter. RWC Asset Management LLP now owns 2,119,922 shares of the basic materials company’s stock worth $126,869,000 after purchasing an additional 190,779 shares in the last quarter. Capital Wealth Planning LLC purchased a new position in Newmont in the fourth quarter valued at approximately $72,020,000. Finally, Dimensional Fund Advisors LP grew its stake in Newmont by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,410,551 shares of the basic materials company’s stock worth $324,072,000 after buying an additional 116,987 shares during the period. Hedge funds and other institutional investors own 79.18% of the company’s stock.
In related news, COO Robert D. Atkinson sold 2,024 shares of the firm’s stock in a transaction that occurred on Thursday, April 1st. The shares were sold at an average price of $61.03, for a total value of $123,524.72. Following the sale, the chief operating officer now directly owns 94,612 shares of the company’s stock, valued at $5,774,170.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,150 shares of the company’s stock in a transaction that occurred on Thursday, April 1st. The stock was sold at an average price of $61.03, for a total transaction of $314,304.50. Following the transaction, the chief executive officer now directly owns 281,825 shares of the company’s stock, valued at approximately $17,199,779.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,522 shares of company stock valued at $1,672,787. Company insiders own 0.28% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 18th. Stockholders of record on Thursday, March 4th were issued a dividend of $0.55 per share. This is a boost from Newmont’s previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, March 3rd. This represents a $2.20 annualized dividend and a dividend yield of 3.55%. Newmont’s dividend payout ratio (DPR) is 121.21%.
Newmont Company Profile
Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, and Ghana. As of December 31, 2020, it had proven and probable gold reserves of 94.2 million ounces and land position of 58,900 square kilometers.
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