Newmont (NYSE:NEM) Issues Quarterly Earnings Results

Newmont (NYSE:NEM) issued its quarterly earnings results on Thursday. The basic materials company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.35 by $0.20, Briefing.com reports. The company had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.66 billion. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The firm’s revenue was up 50.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.40 EPS.

Newmont Price Performance

NEM opened at $42.73 on Friday. The company has a quick ratio of 0.98, a current ratio of 2.15 and a debt-to-equity ratio of 0.32. Newmont has a 52-week low of $29.42 and a 52-week high of $50.18. The company has a 50 day moving average of $35.54 and a two-hundred day moving average of $36.95. The company has a market cap of $49.26 billion, a P/E ratio of -16.00, a P/E/G ratio of 1.11 and a beta of 0.50.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont’s dividend payout ratio (DPR) is -37.45%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Argus downgraded shares of Newmont from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Scotiabank lowered their target price on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. Citigroup lowered their target price on shares of Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, April 4th. TD Securities boosted their price objective on shares of Newmont from $43.00 to $48.00 and gave the stock a “hold” rating in a report on Friday. Finally, National Bank Financial reissued an “outperform overweight” rating on shares of Newmont in a report on Monday, April 8th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.75.

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, Papua New Guinea, Ecuador, Fiji, and Ghana.