Newmont Co. (NYSE:NEM – Get Rating) – Analysts at National Bank Financial increased their FY2022 earnings estimates for shares of Newmont in a research note issued to investors on Tuesday, April 19th. National Bank Financial analyst M. Parkin now forecasts that the basic materials company will post earnings of $3.27 per share for the year, up from their prior estimate of $2.90. National Bank Financial currently has a “Sector Perform” rating and a $94.28 price target on the stock.
Newmont (NYSE:NEM – Get Rating) last announced its earnings results on Friday, April 22nd. The basic materials company reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.02). The company had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $3.06 billion. Newmont had a net margin of 9.54% and a return on equity of 10.19%. Newmont’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.74 earnings per share.
NYSE:NEM opened at $74.52 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.90 and a quick ratio of 2.55. The firm has a market capitalization of $59.06 billion, a price-to-earnings ratio of 51.39 and a beta of 0.30. Newmont has a one year low of $52.60 and a one year high of $86.37. The business has a fifty day moving average price of $75.77 and a 200-day moving average price of $64.46.
A number of institutional investors have recently bought and sold shares of NEM. Central Bank & Trust Co. purchased a new position in shares of Newmont during the first quarter worth approximately $29,000. Vectors Research Management LLC purchased a new position in shares of Newmont during the fourth quarter worth approximately $25,000. Rational Advisors LLC increased its position in shares of Newmont by 133.7% during the fourth quarter. Rational Advisors LLC now owns 416 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 238 shares during the period. Avondale Wealth Management purchased a new position in shares of Newmont during the fourth quarter worth approximately $28,000. Finally, Riverview Trust Co purchased a new position in shares of Newmont during the first quarter worth approximately $38,000. 76.72% of the stock is currently owned by institutional investors.
In related news, SVP Blake Rhodes sold 500 shares of the stock in a transaction dated Tuesday, February 1st. The shares were sold at an average price of $62.00, for a total value of $31,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Thomas Ronald Palmer sold 7,000 shares of the stock in a transaction dated Tuesday, February 1st. The stock was sold at an average price of $62.00, for a total transaction of $434,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 66,343 shares of company stock worth $4,838,533 over the last 90 days. Corporate insiders own 0.11% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 16th. Stockholders of record on Thursday, June 2nd will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend is Wednesday, June 1st. Newmont’s dividend payout ratio is 151.72%.
Newmont Company Profile (Get Rating)
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, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.
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