Newmont (NYSE:NEM) Posts Quarterly Earnings Results, Beats Expectations By $0.20 EPS

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

Newmont Trading Down 1.6 %

NEM traded down $0.68 during mid-day 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 firm’s fifty day simple moving average is $35.54 and its two-hundred day simple moving average is $36.94. The stock 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. Newmont has a 52 week low of $29.42 and a 52 week high of $50.18. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.98 and a current ratio of 2.15.

Newmont Dividend Announcement

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 issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Tuesday, June 4th. Newmont’s dividend payout ratio is currently -37.45%.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of research reports. Argus downgraded Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Citigroup reduced their target price on Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, April 4th. Scotiabank lowered their price target 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. StockNews.com raised shares of Newmont from a “sell” rating to a “hold” rating in a report on Friday. Finally, Jefferies Financial Group began coverage on shares of Newmont in a research report on Thursday, February 29th. They set a “buy” rating and a $38.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $51.75.

About Newmont

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.