Newmont (NYSE:NEM) Posts Earnings Results, Beats Estimates By $0.29 EPS

Newmont (NYSE:NEM) issued its quarterly earnings data on Thursday. The basic materials company reported $1.40 earnings per share 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 %

NEM stock traded up $0.69 during trading on Thursday, hitting $48.10. 13,572,647 shares of the company’s stock traded hands, compared to its average volume of 9,208,329. The firm has a market capitalization of $54.75 billion, a P/E ratio of -31.64, a PEG ratio of 0.40 and a beta of 0.52. The business has a fifty day simple moving average of $41.33 and a two-hundred day simple moving average of $46.46. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont has a 1 year low of $29.42 and a 1 year high of $58.72.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. CLSA assumed coverage on shares of Newmont in a report on Friday, November 29th. They issued an “underperform” rating for the company. Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and lowered their price target for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Finally, Raymond James decreased their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.37.

Insider Activity at Newmont

In other news, COO Natascha Viljoen sold 9,000 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 transaction of $360,000.00. Following the completion of the sale, the chief operating officer now directly owns 145,967 shares in the company, valued at approximately $5,838,680. The trade was a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Harry M. Iv Conger acquired 9,498 shares of the stock in a transaction dated Wednesday, November 27th. The shares were bought at an average price of $42.15 per share, with a total value of $400,340.70. Following the completion of the purchase, the director now directly owns 14,498 shares of the company’s stock, valued at approximately $611,090.70. This trade represents a 189.96 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 28,154 shares of company stock valued at $1,166,843 over the last ninety days. 0.06% of the stock is owned by company insiders.

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.