Newmont (NYSE:NEM) Issues Earnings Results

Newmont (NYSE:NEM) posted its quarterly earnings data 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 net margin of 33.42% and a return on equity of 20.35%.

Newmont Stock Performance

NEM traded up $0.81 on Thursday, hitting $125.50. The company’s stock had a trading volume of 7,614,653 shares, compared to its average volume of 9,977,448. Newmont has a 12 month low of $41.23 and a 12 month high of $134.88. The firm has a market cap of $136.95 billion, a P/E ratio of 19.49, a price-to-earnings-growth ratio of 1.02 and a beta of 0.40. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The company’s 50 day simple moving average is $112.12 and its 200-day simple moving average is $92.35.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Argus increased their price target on Newmont from $75.00 to $94.00 in a research report on Friday, November 21st. Canaccord Genuity Group lifted their target price on Newmont from $115.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. The Goldman Sachs Group increased their price target on shares of Newmont from $99.90 to $123.90 and gave the company a “buy” rating in a research report on Monday, January 12th. Stifel Nicolaus lifted their price objective on shares of Newmont from $120.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Finally, Citigroup reissued a “buy” rating on shares of Newmont in a research report on Monday, January 12th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $131.94.

Insider Activity at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction on Monday, December 1st. The stock was sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the transaction, the director directly owned 32,709 shares in the company, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.05% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NEM. AQR Capital Management LLC increased its position in shares of Newmont by 82.5% during the fourth quarter. AQR Capital Management LLC now owns 7,402,278 shares of the basic materials company’s stock valued at $739,117,000 after buying an additional 3,345,543 shares during the period. Boston Partners boosted its position in shares of Newmont by 49.3% in the third quarter. Boston Partners now owns 6,931,710 shares of the basic materials company’s stock valued at $585,828,000 after acquiring an additional 2,288,653 shares during the period. Bridgewater Associates LP grew its stake in Newmont by 496.1% during the fourth quarter. Bridgewater Associates LP now owns 2,308,909 shares of the basic materials company’s stock valued at $230,545,000 after acquiring an additional 1,921,592 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Newmont by 142.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,262,258 shares of the basic materials company’s stock worth $189,963,000 after acquiring an additional 1,914,286 shares during the period. Finally, Morgan Stanley lifted its stake in Newmont by 11.6% in the 4th quarter. Morgan Stanley now owns 12,401,862 shares of the basic materials company’s stock worth $1,238,326,000 after purchasing an additional 1,284,105 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

About Newmont

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.