Newmont (NYSE:NEM) Announces Quarterly Earnings Results

Newmont (NYSE:NEM) issued its earnings results on Thursday. The basic materials company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.20, Briefing.com reports. Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the prior year, the business earned $0.40 EPS. The business’s revenue for the quarter was up 50.2% compared to the same quarter last year.

Newmont Trading Up 12.5 %

Shares of NYSE:NEM opened at $43.41 on Friday. The business’s 50 day moving average price is $35.35 and its 200-day moving average price is $36.92. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. Newmont has a 1 year low of $29.42 and a 1 year high of $50.18.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.30%. Newmont’s dividend payout ratio is currently -42.02%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of Newmont from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. National Bank Financial reissued an “outperform overweight” rating on shares of Newmont in a research report on Monday, April 8th. Citigroup reduced their price target on Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, April 4th. BMO Capital Markets dropped their target price on Newmont from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. Finally, Jefferies Financial Group assumed coverage on Newmont in a research report on Thursday, February 29th. They set a “buy” rating and a $38.00 target price on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Newmont has an average rating of “Hold” and a consensus target price of $50.89.

Newmont Company Profile

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, Papua New Guinea, Ecuador, Fiji, and Ghana.