Newmont (NYSE:NEM) Posts Quarterly Earnings Results, Beats Expectations By $0.54 EPS

Newmont (NYSE:NEM - Get Free Report) released its quarterly earnings data on Wednesday. The basic materials company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.54, Zacks reports. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The business had revenue of $5.01 billion for the quarter, compared to analysts' expectations of $4.82 billion.

Newmont Stock Performance

Newmont stock traded down $1.77 during midday trading on Friday, hitting $53.93. 12,370,513 shares of the company were exchanged, compared to its average volume of 9,860,341. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont has a fifty-two week low of $36.86 and a fifty-two week high of $58.72. The business has a fifty day simple moving average of $47.89 and a two-hundred day simple moving average of $45.13. The firm has a market capitalization of $60.79 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 1.85%. Newmont's dividend payout ratio (DPR) is presently 34.13%.

Analyst Upgrades and Downgrades

A number of research firms have commented on NEM. Raymond James lifted their price objective on shares of Newmont from $54.00 to $63.00 and gave the stock an "outperform" rating in a research report on Friday, April 4th. StockNews.com upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. TD Securities cut their target price on shares of Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research report on Wednesday, February 26th. Argus set a $63.00 target price on Newmont in a report on Friday. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Newmont in a report on Thursday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Newmont currently has an average rating of "Moderate Buy" and an average target price of $55.40.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $128,670.00. Following the completion of the transaction, the executive vice president now owns 79,596 shares of the company's stock, valued at $3,413,872.44. This trade represents a 3.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $386,010.00. Following the completion of the sale, the chief operating officer now directly owns 136,967 shares in the company, valued at approximately $5,874,514.63. This represents a 6.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,154 shares of company stock worth $825,678. Company insiders own 0.05% of the company's stock.

Hedge Funds Weigh In On Newmont

An institutional investor recently raised its position in Newmont stock. Brighton Jones LLC lifted its stake in shares of Newmont Co. (NYSE:NEM - Free Report) by 15.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,606 shares of the basic materials company's stock after purchasing an additional 1,847 shares during the quarter. Brighton Jones LLC's holdings in Newmont were worth $506,000 at the end of the most recent quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

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