Jefferies Group Weighs in on Newmont Mining Corporation’s FY2018 Earnings (NYSE:NEM)

Newmont Mining Corporation (NYSE:NEM) – Equities research analysts at Jefferies Group lowered their FY2018 EPS estimates for Newmont Mining Corporation in a research report issued to clients and investors on Tuesday. Jefferies Group analyst C. Lafemina now expects that the basic materials company will earn $1.21 per share for the year, down from their previous estimate of $1.51. Jefferies Group currently has a “Hold” rating and a $35.00 target price on the stock.

NEM has been the subject of a number of other reports. Deutsche Bank AG reissued a “buy” rating and issued a $42.00 price target (down from $44.00) on shares of Newmont Mining Corporation in a research report on Sunday, June 25th. Scotiabank reissued a “sector perform” rating and issued a $58.00 price target on shares of Newmont Mining Corporation in a research report on Tuesday, April 25th. Credit Suisse Group set a $45.00 price target on Newmont Mining Corporation and gave the company a “buy” rating in a research report on Tuesday, July 18th. Royal Bank Of Canada reissued a “hold” rating and issued a $39.00 price target on shares of Newmont Mining Corporation in a research report on Tuesday, May 30th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $40.00 price target on shares of Newmont Mining Corporation in a research report on Friday, April 21st. Three research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $41.91.

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Newmont Mining Corporation (NYSE:NEM) traded up 1.70% during trading on Friday, hitting $37.06. 4,348,114 shares of the company traded hands. Newmont Mining Corporation has a 12-month low of $30.19 and a 12-month high of $46.07. The stock has a 50-day moving average price of $33.64 and a 200-day moving average price of $34.21. The firm’s market capitalization is $19.76 billion.

Newmont Mining Corporation (NYSE:NEM) last released its earnings results on Tuesday, July 25th. The basic materials company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.20. Newmont Mining Corporation had a negative net margin of 6.73% and a positive return on equity of 6.67%. The business had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period last year, the business earned $0.44 earnings per share. The firm’s revenue was up 12.3% on a year-over-year basis.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th will be paid a dividend of $0.075 per share. This is an increase from Newmont Mining Corporation’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Wednesday, September 13th. This represents a $0.30 annualized dividend and a dividend yield of 0.81%. Newmont Mining Corporation’s dividend payout ratio is presently -22.22%.

In other news, insider Gary J. Goldberg sold 1,000 shares of the stock in a transaction on Monday, May 1st. The stock was sold at an average price of $33.67, for a total transaction of $33,670.00. Following the completion of the transaction, the insider now owns 334,730 shares in the company, valued at approximately $11,270,359.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Thomas Ronald Palmer sold 1,250 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $31.80, for a total value of $39,750.00. Following the transaction, the chief operating officer now owns 91,862 shares of the company’s stock, valued at approximately $2,921,211.60. The disclosure for this sale can be found here. Insiders have sold a total of 13,950 shares of company stock valued at $468,670 in the last quarter. 0.32% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of NEM. Advisory Services Network LLC purchased a new position in Newmont Mining Corporation during the first quarter valued at $118,000. WFG Advisors LP increased its position in Newmont Mining Corporation by 83.5% in the first quarter. WFG Advisors LP now owns 3,748 shares of the basic materials company’s stock valued at $124,000 after buying an additional 1,706 shares during the last quarter. Smith Affiliated Capital Corp. increased its position in Newmont Mining Corporation by 8.6% in the second quarter. Smith Affiliated Capital Corp. now owns 3,800 shares of the basic materials company’s stock valued at $123,000 after buying an additional 300 shares during the last quarter. Acrospire Investment Management LLC increased its position in Newmont Mining Corporation by 88.5% in the first quarter. Acrospire Investment Management LLC now owns 4,900 shares of the basic materials company’s stock valued at $162,000 after buying an additional 2,300 shares during the last quarter. Finally, Private Capital Advisors Inc. purchased a new position in Newmont Mining Corporation during the first quarter valued at $202,000. Institutional investors own 81.65% of the company’s stock.

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.

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

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