Research Analysts Issue Forecasts for Newmont Co.’s Q2 2022 Earnings (NYSE:NEM)

Newmont Co. (NYSE:NEMGet Rating) – Equities research analysts at KeyCorp reduced their Q2 2022 earnings estimates for Newmont in a research note issued to investors on Sunday, July 17th. KeyCorp analyst A. Josephson now expects that the basic materials company will post earnings of $0.68 per share for the quarter, down from their prior forecast of $0.85. The consensus estimate for Newmont’s current full-year earnings is $3.27 per share. KeyCorp also issued estimates for Newmont’s Q3 2022 earnings at $0.73 EPS and Q4 2022 earnings at $0.75 EPS.

Newmont (NYSE:NEMGet Rating) last issued its earnings results 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 10.24% and a net margin of 8.53%. The company had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the previous year, the company posted $0.74 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year.

NEM has been the topic of several other research reports. TD Securities reduced their price objective on shares of Newmont from $82.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, April 25th. National Bankshares reduced their price objective on shares of Newmont from $119.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 26th. Canaccord Genuity Group reduced their price objective on shares of Newmont from $87.00 to $80.00 in a research note on Tuesday, April 26th. Fundamental Research reaffirmed a “buy” rating and set a $79.52 price target on shares of Newmont in a research note on Tuesday, May 10th. Finally, Sanford C. Bernstein downgraded shares of Newmont from an “outperform” rating to a “market perform” rating and set a $57.00 price target on the stock. in a research note on Monday, April 25th. Fifteen equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Newmont presently has a consensus rating of “Hold” and a consensus target price of $75.49.

Newmont Stock Up 0.1 %

NEM stock opened at $54.81 on Tuesday. The company’s 50 day simple moving average is $64.04 and its 200-day simple moving average is $68.31. The firm has a market capitalization of $43.50 billion, a PE ratio of 41.84 and a beta of 0.43. Newmont has a 12 month low of $52.60 and a 12 month high of $86.37. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.92 and a quick ratio of 2.53.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 16th. Stockholders of record on Thursday, June 2nd were paid a $0.55 dividend. The ex-dividend date of this dividend was Wednesday, June 1st. This represents a $2.20 annualized dividend and a dividend yield of 4.01%. Newmont’s dividend payout ratio is currently 167.94%.

Insider Transactions at Newmont

In other news, CEO Thomas Ronald Palmer sold 11,000 shares of Newmont stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $71.20, for a total value of $783,200.00. Following the transaction, the chief executive officer now owns 287,949 shares of the company’s stock, valued at approximately $20,501,968.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Nancy Buese sold 10,000 shares of Newmont stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $61.50, for a total value of $615,000.00. Following the transaction, the chief financial officer now directly owns 39,530 shares of the company’s stock, valued at $2,431,095. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Thomas Ronald Palmer sold 11,000 shares of Newmont stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $71.20, for a total transaction of $783,200.00. Following the completion of the transaction, the chief executive officer now directly owns 287,949 shares in the company, valued at $20,501,968.80. The disclosure for this sale can be found here. Insiders have sold 56,000 shares of company stock valued at $3,657,300 in the last quarter. Insiders own 0.11% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Money Concepts Capital Corp increased its position in shares of Newmont by 1.6% in the second quarter. Money Concepts Capital Corp now owns 16,706 shares of the basic materials company’s stock worth $1,022,000 after acquiring an additional 270 shares in the last quarter. Farmers Trust Co. grew its position in Newmont by 26.0% during the second quarter. Farmers Trust Co. now owns 62,113 shares of the basic materials company’s stock valued at $3,706,000 after purchasing an additional 12,803 shares in the last quarter. Kercheville Advisors LLC grew its position in Newmont by 36.6% during the second quarter. Kercheville Advisors LLC now owns 31,750 shares of the basic materials company’s stock valued at $1,895,000 after purchasing an additional 8,500 shares in the last quarter. Clean Yield Group purchased a new position in Newmont during the second quarter valued at approximately $60,000. Finally, Equitable Trust Co. grew its position in Newmont by 1.8% during the second quarter. Equitable Trust Co. now owns 31,415 shares of the basic materials company’s stock valued at $1,875,000 after purchasing an additional 551 shares in the last quarter. 78.41% of the stock is owned by hedge funds and other institutional investors.

Newmont Company Profile

(Get Rating)

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.

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Earnings History and Estimates for Newmont (NYSE:NEM)

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