Newmont Co. (NYSE:NEM) – Stock analysts at Jefferies Financial Group decreased their FY2022 earnings per share (EPS) estimates for Newmont in a note issued to investors on Wednesday, September 22nd. Jefferies Financial Group analyst C. Lafemina now forecasts that the basic materials company will post earnings per share of $4.91 for the year, down from their previous forecast of $4.93.
Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, July 22nd. The basic materials company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.07. The firm had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3.11 billion. Newmont had a net margin of 23.00% and a return on equity of 11.78%. The business’s quarterly revenue was up 29.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.32 earnings per share.
NEM opened at $54.05 on Thursday. The stock has a market cap of $43.19 billion, a PE ratio of 15.14 and a beta of 0.23. The company has a quick ratio of 2.33, a current ratio of 2.67 and a debt-to-equity ratio of 0.23. Newmont has a 52 week low of $53.52 and a 52 week high of $75.31. The business’s fifty day simple moving average is $58.59 and its 200 day simple moving average is $62.97.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 23rd. Investors of record on Thursday, September 9th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 4.07%. The ex-dividend date was Wednesday, September 8th. Newmont’s dividend payout ratio is currently 82.71%.
In other news, CEO Thomas Ronald Palmer sold 7,000 shares of Newmont stock in a transaction on Thursday, July 1st. The shares were sold at an average price of $64.00, for a total transaction of $448,000.00. Following the transaction, the chief executive officer now owns 264,525 shares in the company, valued at approximately $16,929,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Nancy Buese sold 10,000 shares of Newmont stock in a transaction on Wednesday, June 30th. The stock was sold at an average price of $62.84, for a total transaction of $628,400.00. Following the transaction, the chief financial officer now owns 34,210 shares in the company, valued at approximately $2,149,756.40. The disclosure for this sale can be found here. Insiders sold 25,588 shares of company stock worth $1,610,567 in the last 90 days. 0.12% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp lifted its stake in shares of Newmont by 0.6% during the 2nd quarter. Van ECK Associates Corp now owns 39,930,538 shares of the basic materials company’s stock valued at $2,530,797,000 after buying an additional 253,225 shares in the last quarter. State Street Corp increased its holdings in Newmont by 7.7% in the 2nd quarter. State Street Corp now owns 39,571,885 shares of the basic materials company’s stock valued at $2,508,066,000 after acquiring an additional 2,814,637 shares during the last quarter. FMR LLC increased its holdings in Newmont by 25.7% in the 2nd quarter. FMR LLC now owns 22,226,291 shares of the basic materials company’s stock valued at $1,408,701,000 after acquiring an additional 4,545,415 shares during the last quarter. Deutsche Bank AG increased its holdings in Newmont by 3.5% in the 2nd quarter. Deutsche Bank AG now owns 20,487,134 shares of the basic materials company’s stock valued at $1,298,473,000 after acquiring an additional 700,182 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in Newmont by 0.5% in the 1st quarter. First Eagle Investment Management LLC now owns 18,462,145 shares of the basic materials company’s stock valued at $1,112,713,000 after acquiring an additional 95,801 shares during the last quarter. Institutional investors own 77.76% of the company’s stock.
Newmont Corp. is a gold producer, which engages in the production of gold. It operates through the following geographical segments: North America, South America, Nevada, Australia, and Africa. The North America segment consists primarily of carlin, phoenix, twin creeks and long canyon in the state of Nevada and Cripple Creek and Victor in the state of Colorado, in the United States.
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