Newmont (NYSE:NEM) Posts Earnings Results, Beats Expectations By $0.71 EPS

Newmont (NYSE:NEM) released its earnings results on Thursday. The basic materials company reported $2.52 EPS for the quarter, beating the consensus estimate of $1.81 by $0.71, Zacks reports. Newmont had a return on equity of 20.35% and a net margin of 33.42%.

Newmont Stock Up 0.7%

Shares of Newmont stock traded up $0.81 during trading on Thursday, reaching $125.50. The company had a trading volume of 7,626,797 shares, compared to its average volume of 9,979,236. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. Newmont has a fifty-two week low of $41.23 and a fifty-two week high of $134.88. The firm’s fifty day moving average is $112.12 and its 200-day moving average is $92.35. The company has a market cap of $136.95 billion, a price-to-earnings ratio of 19.49, a price-to-earnings-growth ratio of 1.02 and a beta of 0.40.

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $92.36, for a total transaction of $192,108.80. Following the sale, the director owned 32,709 shares in the company, valued at $3,021,003.24. This represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.05% of the company’s stock.

Institutional Investors Weigh In On Newmont

Institutional investors and hedge funds have recently made changes to their positions in the company. Parkside Financial Bank & Trust raised its holdings in shares of Newmont by 1.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company’s stock worth $714,000 after purchasing an additional 96 shares during the period. Townsquare Capital LLC lifted its holdings in Newmont by 4.2% in the fourth quarter. Townsquare Capital LLC now owns 2,523 shares of the basic materials company’s stock worth $252,000 after acquiring an additional 102 shares during the last quarter. BOKF NA grew its holdings in shares of Newmont by 0.3% during the third quarter. BOKF NA now owns 45,897 shares of the basic materials company’s stock valued at $3,870,000 after purchasing an additional 148 shares during the last quarter. UMB Bank n.a. raised its position in shares of Newmont by 2.1% during the 4th quarter. UMB Bank n.a. now owns 8,019 shares of the basic materials company’s stock worth $801,000 after purchasing an additional 165 shares during the period. Finally, L2 Asset Management LLC lifted its holdings in shares of Newmont by 3.4% in the 3rd quarter. L2 Asset Management LLC now owns 5,156 shares of the basic materials company’s stock worth $435,000 after purchasing an additional 169 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Raymond James Financial raised their price target on shares of Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, January 15th. Macquarie Infrastructure raised their target price on shares of Newmont from $115.00 to $126.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Newmont in a research report on Monday, December 29th. Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $177.00 price objective on shares of Newmont in a research report on Wednesday, February 4th. Finally, BMO Capital Markets upped their target price on Newmont from $114.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 28th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and a consensus target price of $131.94.

Newmont Company Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.