Earnings results for Newmont (NYSE:NEM)
Newmont Corporation is expected* to report earnings on 07/22/2021 before market open. The report will be for the fiscal Quarter ending Jun 2021. According to Zacks Investment Research, based on 5 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.76. The reported EPS for the same quarter last year was $0.32.
Newmont last released its quarterly earnings results on April 29th, 2021. The basic materials company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.75 by $0.01. The company earned $2.87 billion during the quarter, compared to the consensus estimate of $3.08 billion. Newmont has generated $2.66 earnings per share over the last year and currently has a price-to-earnings ratio of 18.9. Newmont has confirmed that its next quarterly earnings report will be published on Thursday, July 22nd, 2021. Newmont will be holding an earnings conference call on Thursday, July 22nd at 10:00 AM Eastern. Interested parties can register for or listen to the call using this link or dial in at 412-317-0088 with passcode “10157953”.
Analyst Opinion on Newmont (NYSE:NEM)
10 Wall Street analysts have issued ratings and price targets for Newmont in the last 12 months. Their average twelve-month price target is $73.18, predicting that the stock has a possible upside of 21.24%. The high price target for NEM is $105.00 and the low price target for NEM is $57.00. There are currently 3 hold ratings and 7 buy ratings for the stock, resulting in a consensus rating of “Buy.”
Newmont has received a consensus rating of Buy. The company’s average rating score is 2.70, and is based on 7 buy ratings, 3 hold ratings, and no sell ratings. According to analysts’ consensus price target of $73.18, Newmont has a forecasted upside of 21.2% from its current price of $60.36. Newmont has only been the subject of 4 research reports in the past 90 days.
Dividend Strength: Newmont (NYSE:NEM)
Newmont pays a meaningful dividend of 3.64%, higher than the bottom 25% of all stocks that pay dividends. Newmont has only been increasing its dividend for 1 years. The dividend payout ratio of Newmont is 82.71%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, Newmont will have a dividend payout ratio of 59.78% next year. This indicates that Newmont will be able to sustain or increase its dividend.
Insiders buying/selling: Newmont (NYSE:NEM)
In the past three months, Newmont insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $3,827,064.00 in company stock. Only 0.12% of the stock of Newmont is held by insiders. 78.15% of the stock of Newmont is held by institutions. High institutional ownership can be a signal of strong market trust in this company.
Earnings and Valuation of Newmont (NYSE:NEM
Earnings for Newmont are expected to grow by 7.29% in the coming year, from $3.43 to $3.68 per share. The P/E ratio of Newmont is 18.92, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 22.56. The P/E ratio of Newmont is 18.92, which means that it is trading at a less expensive P/E ratio than the Basic Materials sector average P/E ratio of about 29.67. Newmont has a P/B Ratio of 2.03. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.
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