Newmont (NYSE:NEM) Posts Earnings Results

Newmont (NYSE:NEM) posted 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. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the prior year, the business earned $0.40 EPS. The business’s revenue for the quarter was up 50.2% on a year-over-year basis.

Newmont Stock Performance

NEM stock opened at $42.73 on Friday. The company has a market cap of $49.26 billion, a P/E ratio of -16.00, a price-to-earnings-growth ratio of 1.11 and a beta of 0.50. Newmont has a 1 year low of $29.42 and a 1 year high of $50.18. 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 stock’s fifty day moving average price is $35.54 and its 200-day moving average price is $36.95.

Newmont Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Royal Bank of Canada reduced their target price on Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a report on Thursday, February 8th. Argus cut Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Scotiabank dropped their price target on Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a research report on Wednesday, February 28th. StockNews.com raised Newmont from a “sell” rating to a “hold” rating in a research report on Friday. Finally, Jefferies Financial Group initiated coverage on Newmont in a research report on Thursday, February 29th. They issued a “buy” rating and a $38.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.