Newmont Co. (NYSE:NEM) – Research analysts at National Bank Financial cut their FY2021 EPS estimates for shares of Newmont in a note issued to investors on Tuesday, October 5th. National Bank Financial analyst M. Parkin now forecasts that the basic materials company will post earnings of $3.32 per share for the year, down from their previous forecast of $3.52. National Bank Financial currently has a “Outperform” rating and a $105.00 target price on the stock. National Bank Financial also issued estimates for Newmont’s FY2022 earnings at $3.49 EPS.
Other equities analysts have also issued research reports about the company. Zacks Investment Research lowered Newmont from a “hold” rating to a “sell” rating and set a $63.00 price target on the stock. in a report on Tuesday, July 27th. TD Securities lowered Newmont from a “buy” rating to a “hold” rating and lowered their price objective for the company from $74.00 to $70.00 in a report on Friday, July 23rd. Raymond James lowered their price objective on Newmont from $82.00 to $81.00 and set an “outperform” rating on the stock in a report on Wednesday. KeyCorp began coverage on Newmont in a report on Friday, September 24th. They issued a “sector weight” rating on the stock. Finally, UBS Group set a $64.00 price objective on Newmont and gave the company a “neutral” rating in a report on Friday, July 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $72.54.
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NYSE NEM opened at $54.61 on Friday. 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 $53.03 and a 52-week high of $75.31. The business’s 50-day moving average price is $57.22 and its 200 day moving average price is $62.57. The firm has a market cap of $43.64 billion, a P/E ratio of 15.30 and a beta of 0.23. Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, July 22nd. The basic materials company reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.07. Newmont had a return on equity of 11.78% and a net margin of 23.00%. The firm had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same quarter last year, the company posted $0.32 earnings per share. The business’s revenue was up 29.6% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 23rd. Investors of record on Thursday, September 9th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Wednesday, September 8th. This represents a $2.20 annualized dividend and a dividend yield of 4.03%. Newmont’s dividend payout ratio is currently 82.71%.
In other Newmont news, SVP Blake Rhodes sold 500 shares of Newmont stock in a transaction that occurred on Wednesday, September 1st. The shares were sold at an average price of $58.10, for a total value of $29,050.00. Following the completion of the sale, the senior vice president now directly owns 48,726 shares of the company’s stock, valued at approximately $2,830,980.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas Ronald Palmer sold 7,000 shares of Newmont stock in a transaction that occurred on Friday, October 1st. The stock was sold at an average price of $54.65, for a total transaction of $382,550.00. The disclosure for this sale can be found here. Insiders have sold a total of 25,588 shares of company stock valued at $1,435,117 over the last 90 days. Insiders own 0.12% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. FormulaFolio Investments LLC purchased a new stake in Newmont in the 1st quarter worth approximately $34,000. Aspire Private Capital LLC grew its stake in shares of Newmont by 3,592.9% during the 1st quarter. Aspire Private Capital LLC now owns 517 shares of the basic materials company’s stock valued at $31,000 after buying an additional 503 shares during the period. Strategic Blueprint LLC purchased a new stake in shares of Newmont during the 2nd quarter valued at $37,000. Bbva USA purchased a new stake in shares of Newmont during the 2nd quarter valued at $38,000. Finally, Mizuho Securities Co. Ltd. purchased a new stake in shares of Newmont during the 1st quarter valued at $36,000. 77.76% of the stock is owned by hedge funds and other institutional investors.
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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