Analysts Anticipate Newmont Goldcorp Corp (NYSE:NEM) Will Post Earnings of $0.43 Per Share

Equities analysts expect Newmont Goldcorp Corp (NYSE:NEM) to post earnings per share of $0.43 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Newmont Goldcorp’s earnings. The highest EPS estimate is $0.54 and the lowest is $0.34. Newmont Goldcorp reported earnings per share of $0.12 in the same quarter last year, which would suggest a positive year-over-year growth rate of 258.3%. The company is expected to announce 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 year, with EPS estimates ranging from $1.97 to $3.91. For the next year, analysts forecast that the company will report earnings of $3.92 per share, with EPS estimates ranging from $2.47 to $6.74. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that follow Newmont Goldcorp.

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

NEM has been the subject of several recent research reports. TD Securities raised their price target on Newmont Goldcorp from $81.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. B. Riley lifted their price objective on Newmont Goldcorp from $96.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, May 19th. Citigroup lowered their price objective on Newmont Goldcorp from $74.00 to $70.00 in a research report on Monday. JPMorgan Chase & Co. lifted their price objective on Newmont Goldcorp from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $48.00 price objective on shares of Newmont Goldcorp in a research report on Thursday, April 30th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Newmont Goldcorp presently has a consensus rating of “Buy” and a consensus target price of $69.42.

In other Newmont Goldcorp news, EVP Stephen P. Gottesfeld sold 3,500 shares of the business’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $49.79, for a total transaction of $174,265.00. Following the transaction, the executive vice president now owns 173,444 shares in the company, valued at $8,635,776.76. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 4,000 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $45.04, for a total value of $180,160.00. Following the transaction, the chief executive officer now owns 286,597 shares in the company, valued at approximately $12,908,328.88. The disclosure for this sale can be found here. Insiders sold 106,053 shares of company stock worth $6,520,552 in the last quarter. 0.28% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of NEM. Harwood Advisory Group LLC acquired a new position in shares of Newmont Goldcorp during the first quarter worth about $25,000. Tarbox Family Office Inc. lifted its stake in shares of Newmont Goldcorp by 73.8% during the first quarter. Tarbox Family Office Inc. now owns 570 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 242 shares in the last quarter. Lenox Wealth Management Inc. lifted its stake in shares of Newmont Goldcorp by 608.2% during the first quarter. Lenox Wealth Management Inc. now owns 602 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 517 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Newmont Goldcorp by 3,200.0% during the first quarter. Allworth Financial LP now owns 825 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 800 shares in the last quarter. Finally, Wealth Quarterback LLC acquired a new position in shares of Newmont Goldcorp during the fourth quarter worth about $43,000. Institutional investors own 81.38% of the company’s stock.

Newmont Goldcorp stock traded up $2.20 during mid-day trading on Tuesday, hitting $61.74. 9,271,676 shares of the company 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 business’s 50 day simple moving average is $59.65 and its two-hundred day simple moving average is $50.88. The company has a market capitalization of $47.86 billion, a P/E ratio of 14.26 and a beta of 0.38. Newmont Goldcorp has a 12-month low of $33.00 and a 12-month high of $69.13.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 4th were issued a $0.25 dividend. The ex-dividend date was Wednesday, June 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 1.62%. This is a boost from Newmont Goldcorp’s previous quarterly dividend of $0.14. Newmont Goldcorp’s dividend payout ratio (DPR) is presently 75.76%.

About Newmont Goldcorp

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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