Wall Street analysts predict that Newmont Goldcorp Corp (NYSE:NEM) will report $2.39 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Newmont Goldcorp’s earnings, with the highest sales estimate coming in at $2.54 billion and the lowest estimate coming in at $2.11 billion. Newmont Goldcorp posted sales of $2.26 billion during the same quarter last year, which suggests a positive year over year growth rate of 5.8%. The firm is scheduled to announce its next quarterly earnings report on Thursday, July 23rd.

According to Zacks, analysts expect that Newmont Goldcorp will report full year sales of $11.85 billion for the current financial year, with estimates ranging from $10.88 billion to $14.24 billion. For the next year, analysts expect that the company will post sales of $13.94 billion, with estimates ranging from $11.54 billion to $19.05 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Newmont Goldcorp.

Newmont Goldcorp (NYSE:NEM) last issued its earnings results on Tuesday, May 5th. The basic materials company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.02). The business had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.66 billion. Newmont Goldcorp had a return on equity of 5.10% and a net margin of 33.66%. Newmont Goldcorp’s revenue for the quarter was up 43.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.33 EPS.

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Newmont Goldcorp from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. BMO Capital Markets cut their price objective on shares of Newmont Goldcorp from $60.00 to $59.00 and set an “outperform” rating for the company in a research report on Thursday, April 2nd. Citigroup dropped their target price on shares of Newmont Goldcorp from $74.00 to $70.00 in a research report on Monday. Royal Bank of Canada reiterated a “hold” rating and set a $48.00 target price on shares of Newmont Goldcorp in a research report on Thursday, April 30th. Finally, B. Riley lifted their target price on shares of Newmont Goldcorp from $96.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, May 19th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Newmont Goldcorp presently has an average rating of “Buy” and an average price target of $69.42.

NYSE:NEM traded up $2.20 on Thursday, reaching $61.74. 9,271,676 shares of the company’s stock were exchanged, 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 firm has a market cap of $47.86 billion, a price-to-earnings ratio of 14.26 and a beta of 0.38. Newmont Goldcorp has a 52 week low of $33.00 and a 52 week high of $69.13. The stock has a fifty day simple moving average of $59.65 and a 200-day simple moving average of $50.88.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, June 3rd. This is an increase from Newmont Goldcorp’s previous quarterly dividend of $0.14. This represents a $1.00 annualized dividend and a dividend yield of 1.62%. Newmont Goldcorp’s dividend payout ratio (DPR) is 75.76%.

In related news, EVP Stephen P. Gottesfeld sold 4,000 shares of Newmont Goldcorp stock in a transaction on Monday, June 15th. The shares were sold at an average price of $54.09, for a total value of $216,360.00. Following the transaction, the executive vice president now directly owns 154,944 shares of the company’s stock, valued at $8,380,920.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO John Kitlen sold 1,500 shares of Newmont Goldcorp stock in a transaction on Monday, April 6th. The stock was sold at an average price of $48.43, for a total transaction of $72,645.00. Following the completion of the transaction, the chief accounting officer now directly owns 41,734 shares in the company, valued at $2,021,177.62. The disclosure for this sale can be found here. Insiders have sold 106,053 shares of company stock worth $6,520,552 over the last three months. Insiders own 0.28% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp increased its stake in shares of Newmont Goldcorp by 4.7% in the fourth quarter. Van ECK Associates Corp now owns 39,275,253 shares of the basic materials company’s stock worth $1,706,510,000 after buying an additional 1,764,699 shares during the period. Geode Capital Management LLC increased its stake in shares of Newmont Goldcorp by 9.7% in the first quarter. Geode Capital Management LLC now owns 13,982,963 shares of the basic materials company’s stock worth $632,066,000 after buying an additional 1,236,186 shares during the period. Renaissance Technologies LLC increased its stake in shares of Newmont Goldcorp by 27.1% in the fourth quarter. Renaissance Technologies LLC now owns 9,234,499 shares of the basic materials company’s stock worth $401,242,000 after buying an additional 1,966,320 shares during the period. Norges Bank purchased a new position in shares of Newmont Goldcorp in the fourth quarter worth $378,296,000. Finally, Swiss National Bank boosted its holdings in Newmont Goldcorp by 15.4% in the first quarter. Swiss National Bank now owns 6,920,258 shares of the basic materials company’s stock valued at $313,349,000 after acquiring an additional 925,700 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors.

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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Earnings History and Estimates for Newmont Goldcorp (NYSE:NEM)

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