Newmont (NYSE:NEM) Releases Earnings Results

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

Newmont Trading Up 1.4 %

Shares of NEM stock traded up $0.69 during trading hours on Thursday, hitting $48.10. The company had a trading volume of 13,572,647 shares, compared to its average volume of 9,208,329. The company’s fifty day moving average is $41.33 and its 200 day moving average is $46.46. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. The stock has a market capitalization of $54.75 billion, a PE ratio of -31.64, a price-to-earnings-growth ratio of 0.40 and a beta of 0.52.

Wall Street Analyst Weigh In

A number of analysts have recently commented on NEM shares. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Bernstein Bank upped their price objective on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $67.00 to $54.00 in a research note on Wednesday, October 30th. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Finally, Royal Bank of Canada upped their price objective on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.37.

Insider Transactions at Newmont

In other Newmont news, Director Harry M. Iv Conger bought 9,498 shares of Newmont stock in a transaction on Wednesday, November 27th. The shares were bought at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the acquisition, the director now directly owns 14,498 shares in the company, valued at $611,090.70. This represents a 189.96 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $360,000.00. Following the sale, the chief operating officer now owns 145,967 shares in the company, valued at approximately $5,838,680. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,154 shares of company stock worth $1,166,843. 0.06% of the stock is currently owned by insiders.

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.