Equities analysts expect Newmont Goldcorp Corp (NYSE:NEM) to post sales of $3.08 billion for the current quarter, Zacks reports. Two analysts have provided estimates for Newmont Goldcorp’s earnings. The lowest sales estimate is $3.01 billion and the highest is $3.15 billion. Newmont Goldcorp reported sales of $2.05 billion in the same quarter last year, which would suggest a positive year over year growth rate of 50.2%. The business is expected to report its next earnings results on Thursday, February 20th.
According to Zacks, analysts expect that Newmont Goldcorp will report full-year sales of $10.01 billion for the current financial year, with estimates ranging from $9.79 billion to $10.29 billion. For the next year, analysts anticipate that the business will report sales of $12.82 billion, with estimates ranging from $12.47 billion to $13.26 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Newmont Goldcorp.
Newmont Goldcorp (NYSE:NEM) last issued its quarterly earnings results on Tuesday, November 5th. The basic materials company reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.03). The company had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.83 billion. Newmont Goldcorp had a net margin of 25.42% and a return on equity of 4.71%. The company’s quarterly revenue was up 57.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.33 earnings per share.
A number of research analysts have weighed in on the stock. Royal Bank of Canada raised shares of Newmont Goldcorp from an “underperform” rating to a “sector perform” rating and set a $45.00 target price on the stock in a research note on Monday, September 9th. Citigroup raised their target price on shares of Newmont Goldcorp from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. BMO Capital Markets raised shares of Newmont Goldcorp from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $45.00 to $50.00 in a research note on Wednesday, September 11th. B. Riley decreased their target price on shares of Newmont Goldcorp from $43.90 to $41.30 and set a “neutral” rating on the stock in a research note on Monday, October 21st. Finally, Berenberg Bank reissued a “neutral” rating and issued a $50.00 target price on shares of Newmont Goldcorp in a research note on Saturday, November 2nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $46.13.
In other news, President Thomas Ronald Palmer sold 2,750 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $40.01, for a total transaction of $110,027.50. Following the completion of the sale, the president now owns 254,073 shares in the company, valued at approximately $10,165,460.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Dean Gehring sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $39.32, for a total transaction of $137,620.00. Following the sale, the executive vice president now owns 24,810 shares of the company’s stock, valued at approximately $975,529.20. The disclosure for this sale can be found here. Insiders have sold a total of 45,805 shares of company stock valued at $1,811,632 in the last 90 days. Insiders own 0.44% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in NEM. Vanguard Group Inc. increased its holdings in shares of Newmont Goldcorp by 52.2% during the 2nd quarter. Vanguard Group Inc. now owns 89,715,566 shares of the basic materials company’s stock worth $3,451,358,000 after buying an additional 30,786,889 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Newmont Goldcorp by 27.8% during the 2nd quarter. BlackRock Inc. now owns 109,649,438 shares of the basic materials company’s stock worth $4,218,213,000 after buying an additional 23,820,369 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Newmont Goldcorp by 33.0% during the 2nd quarter. Van ECK Associates Corp now owns 37,040,057 shares of the basic materials company’s stock worth $1,424,931,000 after buying an additional 9,198,168 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in shares of Newmont Goldcorp by 63,100.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 8,032,118 shares of the basic materials company’s stock worth $308,996,000 after buying an additional 8,019,409 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Newmont Goldcorp by 32.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,512,764 shares of the basic materials company’s stock worth $519,836,000 after buying an additional 3,328,151 shares during the last quarter. Institutional investors and hedge funds own 80.05% of the company’s stock.
Shares of Newmont Goldcorp stock opened at $36.61 on Friday. The firm has a market capitalization of $30.79 billion, a PE ratio of 27.12 and a beta of -0.05. Newmont Goldcorp has a twelve month low of $29.77 and a twelve month high of $41.23. The firm’s 50-day moving average price is $38.57 and its 200 day moving average price is $36.82. The company has a current ratio of 2.18, a quick ratio of 1.38 and a debt-to-equity ratio of 0.30.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.53%. Newmont Goldcorp’s dividend payout ratio is currently 41.48%.
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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