Newmont (NYSE:NEM) Releases Earnings Results

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

Newmont Price Performance

Shares of NEM traded down $0.68 during midday trading on Friday, reaching $42.73. The stock had a trading volume of 14,689,213 shares, compared to its average volume of 14,308,821. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.15 and a quick ratio of 0.98. The company has a market capitalization of $49.26 billion, a P/E ratio of -16.00, a P/E/G ratio of 1.09 and a beta of 0.50. The firm’s 50 day moving average price is $35.54 and its 200-day moving average price is $36.94. Newmont has a 52 week low of $29.42 and a 52 week high of $50.18.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders 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 dividend yield of 2.34%. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont’s dividend payout ratio (DPR) is presently -37.45%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on NEM shares. TD Securities raised their target price on shares of Newmont from $43.00 to $48.00 and gave the stock a “hold” rating in a report on Friday. Scotiabank reduced their price objective on Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a research report on Wednesday, February 28th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Newmont in a research report on Monday, April 8th. Argus lowered shares of Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Finally, Jefferies Financial Group began coverage on shares of Newmont in a research report on Thursday, February 29th. They issued a “buy” rating and a $38.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average 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.