Q4 2017 Earnings Estimate for Newmont Mining Corp Issued By FBR & Co (NEM)

Newmont Mining Corp (NYSE:NEM) – Investment analysts at FBR & Co dropped their Q4 2017 earnings per share estimates for shares of Newmont Mining Corp in a research report issued to clients and investors on Monday. FBR & Co analyst L. Pipes now forecasts that the basic materials company will post earnings of $0.28 per share for the quarter, down from their prior forecast of $0.30. FBR & Co currently has a “Hold” rating on the stock. FBR & Co also issued estimates for Newmont Mining Corp’s Q1 2018 earnings at $0.20 EPS, Q2 2018 earnings at $0.21 EPS, Q3 2018 earnings at $0.21 EPS, Q4 2018 earnings at $0.21 EPS and FY2018 earnings at $0.83 EPS.

Newmont Mining Corp (NYSE:NEM) last issued its quarterly earnings results on Monday, April 24th. The basic materials company reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.03. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Newmont Mining Corp had a positive return on equity of 4.94% and a negative net margin of 6.99%. Newmont Mining Corp’s revenue was up 13.5% on a year-over-year basis. During the same quarter last year, the business posted $0.34 EPS.

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Earnings History and Estimates for Newmont Mining Corp (NYSE:NEM)

NEM has been the subject of several other reports. Scotiabank downgraded Newmont Mining Corp from an “outperform” rating to a “sector perform” rating and set a $42.00 price target for the company. in a report on Tuesday, January 10th. Vetr downgraded Newmont Mining Corp from a “sell” rating to a “strong sell” rating and set a $32.55 price target for the company. in a report on Monday, February 6th. Zacks Investment Research downgraded Newmont Mining Corp from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 10th. Royal Bank of Canada downgraded Newmont Mining Corp from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $43.00 to $38.00 in a report on Thursday, March 16th. They noted that the move was a valuation call. Finally, Jefferies Group LLC set a $34.00 price target on Newmont Mining Corp and gave the stock a “hold” rating in a report on Wednesday, February 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $41.18.

Shares of Newmont Mining Corp (NYSE:NEM) traded up 0.809% during trading on Tuesday, reaching $33.025. The company had a trading volume of 1,985,546 shares. The firm’s market capitalization is $17.61 billion. Newmont Mining Corp has a 52-week low of $30.19 and a 52-week high of $46.07. The company has a 50 day moving average of $33.64 and a 200-day moving average of $34.33.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 22nd. Investors of record on Thursday, June 8th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, June 6th. This represents a $0.20 annualized dividend and a yield of 0.61%. Newmont Mining Corp’s dividend payout ratio (DPR) is presently -19.42%.

In related news, EVP William N. Macgowan sold 2,006 shares of the stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $36.31, for a total transaction of $72,837.86. Following the completion of the transaction, the executive vice president now directly owns 91,462 shares of the company’s stock, valued at $3,320,985.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gary J. Goldberg sold 1,000 shares of the stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $33.05, for a total value of $33,050.00. Following the transaction, the insider now directly owns 334,730 shares of the company’s stock, valued at $11,062,826.50. The disclosure for this sale can be found here. Insiders have sold 21,257 shares of company stock valued at $734,443 over the last three months. Insiders own 0.22% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Newmont Mining Corp by 3.4% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 81,779 shares of the basic materials company’s stock valued at $3,213,000 after buying an additional 2,675 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Newmont Mining Corp by 14.0% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,253,689 shares of the basic materials company’s stock valued at $88,547,000 after buying an additional 276,152 shares during the period. DnB Asset Management AS boosted its position in shares of Newmont Mining Corp by 8.5% in the third quarter. DnB Asset Management AS now owns 48,427 shares of the basic materials company’s stock valued at $1,903,000 after buying an additional 3,800 shares during the period. Rothschild Asset Management Inc. boosted its position in shares of Newmont Mining Corp by 21.5% in the third quarter. Rothschild Asset Management Inc. now owns 15,698 shares of the basic materials company’s stock valued at $617,000 after buying an additional 2,776 shares during the period. Finally, World Asset Management Inc boosted its position in shares of Newmont Mining Corp by 1.8% in the third quarter. World Asset Management Inc now owns 57,199 shares of the basic materials company’s stock valued at $2,247,000 after buying an additional 1,028 shares during the period. 82.02% of the stock is owned by hedge funds and other institutional investors.

About Newmont Mining Corp

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.

5 Day Chart for NYSE:NEM

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