Newmont Mining Corporation to Post Q4 2017 Earnings of $0.38 Per Share, FBR & Co Forecasts (NEM)
Newmont Mining Corporation (NYSE:NEM) – Analysts at FBR & Co lifted their Q4 2017 earnings estimates for shares of Newmont Mining Corporation in a research note issued to investors on Tuesday. FBR & Co analyst L. Pipes now forecasts that the basic materials company will post earnings per share of $0.38 for the quarter, up from their previous estimate of $0.28. FBR & Co has a “Hold” rating and a $40.00 price target on the stock. FBR & Co also issued estimates for Newmont Mining Corporation’s Q1 2018 earnings at $0.23 EPS, Q2 2018 earnings at $0.24 EPS, Q3 2018 earnings at $0.24 EPS, Q4 2018 earnings at $0.24 EPS and FY2018 earnings at $0.94 EPS.
Newmont Mining Corporation (NYSE:NEM) last issued its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. The business had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Newmont Mining Corporation had a return on equity of 6.20% and a net margin of 1.18%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 earnings per share.
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Other research analysts have also issued reports about the stock. BidaskClub upgraded shares of Newmont Mining Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Royal Bank Of Canada reiterated a “hold” rating and issued a $40.00 price objective on shares of Newmont Mining Corporation in a research note on Tuesday, July 18th. TD Securities lifted their price objective on shares of Newmont Mining Corporation from $36.00 to $50.00 and gave the company a “hold” rating in a research note on Wednesday, July 26th. Zacks Investment Research upgraded shares of Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research note on Monday, July 31st. Finally, BMO Capital Markets set a $40.00 price objective on shares of Newmont Mining Corporation and gave the company a “buy” rating in a research note on Wednesday, August 23rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Newmont Mining Corporation has a consensus rating of “Buy” and a consensus target price of $40.65.
Institutional investors have recently bought and sold shares of the business. Deane Retirement Strategies Inc. bought a new stake in Newmont Mining Corporation in the third quarter worth $1,513,000. MUFG Securities EMEA plc bought a new stake in Newmont Mining Corporation in the second quarter worth $12,341,000. Shell Asset Management Co. lifted its stake in Newmont Mining Corporation by 173.1% in the third quarter. Shell Asset Management Co. now owns 793,199 shares of the basic materials company’s stock worth $18,283,000 after purchasing an additional 502,784 shares during the last quarter. Boyer & Corporon Wealth Management LLC lifted its stake in Newmont Mining Corporation by 9.4% in the second quarter. Boyer & Corporon Wealth Management LLC now owns 116,703 shares of the basic materials company’s stock worth $3,780,000 after purchasing an additional 10,048 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its stake in Newmont Mining Corporation by 9.6% in the second quarter. Neuberger Berman Group LLC now owns 2,281,035 shares of the basic materials company’s stock worth $73,883,000 after purchasing an additional 200,466 shares during the last quarter. 80.00% of the stock is owned by institutional investors and hedge funds.
In other Newmont Mining Corporation news, COO Thomas Ronald Palmer sold 1,250 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $38.60, for a total value of $48,250.00. Following the completion of the sale, the chief operating officer now directly owns 89,362 shares of the company’s stock, valued at $3,449,373.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Elaine J. Dorward-King sold 10,250 shares of the business’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $38.27, for a total transaction of $392,267.50. Following the completion of the sale, the executive vice president now directly owns 82,114 shares of the company’s stock, valued at $3,142,502.78. The disclosure for this sale can be found here. Insiders have sold a total of 19,750 shares of company stock valued at $752,405 over the last ninety days. 0.32% of the stock is currently owned by insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Friday, December 8th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of Infinity. The ex-dividend date of this dividend is Thursday, December 7th. Newmont Mining Corporation’s dividend payout ratio is currently 200.00%.
Newmont Mining Corporation Company Profile
Newmont Mining Corporation is a mining company, which is focused on the production of and exploration for gold and copper. The Company is primarily a gold producer with operations and/or assets in the United States, Australia, Peru, Ghana and Suriname. The Company’s segments include North America, South America, Asia Pacific and Africa.
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