Newmont (NYSE:NEM) Issues Quarterly Earnings Results, Beats Expectations By $0.29 EPS

Newmont (NYSE:NEM) announced its earnings results on Thursday. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29, Zacks reports. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%.

Newmont Stock Up 1.4 %

Shares of Newmont stock traded up $0.69 during trading hours on Thursday, hitting $48.10. The company had a trading volume of 13,514,077 shares, compared to its average volume of 9,178,863. The company’s 50-day moving average is $41.33 and its two-hundred day moving average is $46.46. Newmont has a twelve month low of $29.42 and a twelve month high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The company has a market cap of $54.75 billion, a P/E ratio of -31.64, a price-to-earnings-growth ratio of 0.40 and a beta of 0.52.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NEM. The Goldman Sachs Group started coverage on Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 target price on the stock. CLSA initiated coverage on shares of Newmont in a research note on Friday, November 29th. They set an “underperform” rating on the stock. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Cibc World Mkts cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, Scotiabank cut their price objective on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.37.

Insider Activity at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the transaction, the director now directly owns 52,070 shares of the company’s stock, valued at $2,082,800. The trade was a 3.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the transaction, the executive vice president now directly owns 82,596 shares in the company, valued at $3,303,840. The trade was a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,154 shares of company stock valued at $1,166,843 over the last ninety days. Insiders own 0.06% of the company’s stock.

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.