Newmont Co. (NYSE:NEM – Get Rating) – Stock analysts at Edison Inv. Res issued their Q1 2022 earnings per share estimates for shares of Newmont in a report released on Thursday, April 21st. Edison Inv. Res analyst C. Gibson anticipates that the basic materials company will earn $0.58 per share for the quarter. Edison Inv. Res also issued estimates for Newmont’s Q3 2022 earnings at $0.87 EPS and Q4 2022 earnings at $0.90 EPS. Newmont (NYSE:NEM – Get Rating) last issued its quarterly earnings data on Friday, April 22nd. The basic materials company reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.02). Newmont had a return on equity of 10.19% and a net margin of 9.54%. The business had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same quarter last year, the firm earned $0.74 EPS. Newmont’s revenue for the quarter was up 5.3% compared to the same quarter last year.
Several other equities analysts have also recently commented on NEM. Canaccord Genuity Group restated a “hold” rating and issued a $65.00 target price on shares of Newmont in a research report on Wednesday, February 9th. Credit Suisse Group cut shares of Newmont from an “outperform” rating to a “neutral” rating in a research report on Tuesday, April 19th. National Bank Financial lowered shares of Newmont from an “outperform” rating to a “sector perform” rating and set a $94.28 price target on the stock. in a report on Wednesday, April 20th. They noted that the move was a valuation call. Raymond James set a $82.00 price target on shares of Newmont and gave the company an “outperform” rating in a report on Wednesday, April 13th. Finally, Fundamental Research boosted their target price on shares of Newmont from $61.10 to $73.44 and gave the stock a “buy” rating in a report on Tuesday, March 1st. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Newmont presently has an average rating of “Hold” and a consensus target price of $71.15.
Shares of Newmont stock opened at $74.52 on Monday. Newmont has a twelve month low of $52.60 and a twelve month high of $86.37. The company has a quick ratio of 2.55, a current ratio of 2.90 and a debt-to-equity ratio of 0.28. The company has a 50-day simple moving average of $75.77 and a two-hundred day simple moving average of $64.60. The stock has a market capitalization of $59.06 billion, a price-to-earnings ratio of 56.89 and a beta of 0.30.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 16th. Shareholders of record on Thursday, June 2nd will be issued a dividend of $0.55 per share. The ex-dividend date is Wednesday, June 1st. This represents a $2.20 annualized dividend and a yield of 2.95%. Newmont’s payout ratio is 167.94%.
In other news, SVP Blake Rhodes sold 500 shares of the stock in a transaction dated Tuesday, February 1st. The shares were sold at an average price of $62.00, for a total value of $31,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas Ronald Palmer sold 7,000 shares of the stock in a transaction dated Tuesday, February 1st. The shares were sold at an average price of $62.00, for a total transaction of $434,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,343 shares of company stock worth $4,838,533. Corporate insiders own 0.11% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Vectors Research Management LLC bought a new position in Newmont during the fourth quarter valued at about $25,000. Rational Advisors LLC grew its position in Newmont by 133.7% during the fourth quarter. Rational Advisors LLC now owns 416 shares of the basic materials company’s stock valued at $26,000 after buying an additional 238 shares during the period. TFO TDC LLC bought a new position in Newmont during the third quarter valued at about $27,000. Avondale Wealth Management bought a new position in Newmont during the fourth quarter valued at about $28,000. Finally, Clearstead Advisors LLC bought a new position in Newmont during the third quarter valued at about $29,000. Institutional investors own 76.72% of the company’s stock.
About Newmont
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, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.