Newmont Goldcorp Corp (NYSE:NEM) Expected to Announce Earnings of $0.43 Per Share
Brokerages forecast that Newmont Goldcorp Corp (NYSE:NEM) will post earnings per share (EPS) of $0.43 for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Newmont Goldcorp’s earnings, with the lowest EPS estimate coming in at $0.34 and the highest estimate coming in at $0.54. Newmont Goldcorp posted earnings of $0.12 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 258.3%. The firm is expected to report its next earnings results on Thursday, July 23rd.
On average, analysts expect that Newmont Goldcorp will report full year earnings of $2.38 per share for the current fiscal year, with EPS estimates ranging from $1.97 to $3.91. For the next fiscal year, analysts anticipate that the business will report earnings of $3.92 per share, with EPS estimates ranging from $2.47 to $6.74. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Newmont Goldcorp.
Newmont Goldcorp (NYSE:NEM) last released its earnings results on Tuesday, May 5th. The basic materials company reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.02). Newmont Goldcorp had a net margin of 33.66% and a return on equity of 5.10%. The company had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the previous year, the business posted $0.33 EPS. The firm’s quarterly revenue was up 43.2% on a year-over-year basis.
In related news, CAO John Kitlen sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $48.43, for a total value of $72,645.00. Following the completion of the sale, the chief accounting officer now owns 41,734 shares of the company’s stock, valued at $2,021,177.62. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP E Randall Engel sold 67,982 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $65.33, for a total transaction of $4,441,264.06. Following the completion of the sale, the executive vice president now directly owns 342,823 shares of the company’s stock, valued at approximately $22,396,626.59. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 106,053 shares of company stock valued at $6,520,552. Company insiders own 0.28% of the company’s stock.
Several institutional investors have recently modified their holdings of NEM. Victory Capital Management Inc. increased its holdings in shares of Newmont Goldcorp by 0.3% in the fourth quarter. Victory Capital Management Inc. now owns 1,842,513 shares of the basic materials company’s stock valued at $80,057,000 after purchasing an additional 4,780 shares in the last quarter. Independent Advisor Alliance bought a new position in Newmont Goldcorp in the fourth quarter valued at approximately $221,000. Cetera Advisor Networks LLC boosted its stake in Newmont Goldcorp by 30.6% in the fourth quarter. Cetera Advisor Networks LLC now owns 12,807 shares of the basic materials company’s stock valued at $557,000 after acquiring an additional 3,002 shares during the last quarter. Natixis Advisors L.P. boosted its stake in Newmont Goldcorp by 22.3% in the fourth quarter. Natixis Advisors L.P. now owns 133,848 shares of the basic materials company’s stock valued at $5,816,000 after acquiring an additional 24,369 shares during the last quarter. Finally, Wilkins Investment Counsel Inc. boosted its stake in Newmont Goldcorp by 0.7% in the fourth quarter. Wilkins Investment Counsel Inc. now owns 375,010 shares of the basic materials company’s stock valued at $16,294,000 after acquiring an additional 2,450 shares during the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE NEM traded up $2.20 during mid-day trading on Tuesday, hitting $61.74. The company had a trading volume of 9,271,676 shares, compared to its average volume of 9,468,904. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.31 and a quick ratio of 2.81. The business’s 50-day simple moving average is $59.65 and its 200-day simple moving average is $50.88. Newmont Goldcorp has a 12 month low of $33.00 and a 12 month high of $69.13. The firm has a market cap of $47.86 billion, a P/E ratio of 14.26 and a beta of 0.38.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th were issued a dividend of $0.25 per share. This is a positive change from Newmont Goldcorp’s previous quarterly dividend of $0.14. The ex-dividend date was Wednesday, June 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.62%. Newmont Goldcorp’s dividend payout ratio (DPR) is presently 75.76%.
Newmont Goldcorp Company Profile
Newmont Mining Corporation, together with its subsidiaries, operates in the mining industry. The company primarily acquires, develops, explores for, and produces gold, copper, and silver. Its operations and/or assets are located in the United States, Australia, Peru, Ghana, and Suriname. As of December 31, 2018, the company had proven and probable gold reserves of 65.4 million ounces and an aggregate land position of approximately 24,000 square miles.
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