Newmont (NYSE:NEM) Releases Earnings Results, Beats Estimates By $0.10 EPS

Newmont (NYSE:NEM) posted its earnings results on Wednesday. The basic materials company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.10, Briefing.com reports. The firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.13 billion. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The company’s revenue was up 64.1% on a year-over-year basis. During the same period last year, the firm posted $0.33 EPS.

Newmont Trading Down 4.2 %

Shares of NEM traded down $2.00 during mid-day trading on Thursday, hitting $45.70. The company had a trading volume of 12,534,132 shares, compared to its average volume of 11,340,813. The business’s 50-day simple moving average is $43.28 and its 200-day simple moving average is $38.68. The company has a quick ratio of 1.90, a current ratio of 2.15 and a debt-to-equity ratio of 0.32. Newmont has a 1-year low of $29.42 and a 1-year high of $48.97. The stock has a market cap of $52.70 billion, a PE ratio of -17.12, a P/E/G ratio of 0.37 and a beta of 0.47.

Insider Buying and Selling

In other Newmont news, CEO Thomas Ronald Palmer sold 13,000 shares of Newmont stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $42.13, for a total transaction of $547,690.00. Following the transaction, the chief executive officer now directly owns 331,469 shares of the company’s stock, valued at $13,964,788.97. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on NEM shares. TD Securities increased their target price on shares of Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a research report on Friday, April 26th. BNP Paribas upgraded shares of Newmont to a “strong-buy” rating in a research note on Friday, June 21st. UBS Group upgraded shares of Newmont from a “neutral” rating to a “buy” rating and increased their price target for the stock from $40.00 to $50.00 in a research note on Monday, June 17th. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Finally, Scotiabank increased their price target on shares of Newmont from $46.50 to $48.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 23rd. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and an average target price of $50.00.

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.