Earnings results for Newmont (NYSE:NEM)
Newmont last announced its earnings results on July 22nd, 2021. The basic materials company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.07. The business had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3.11 billion. Its revenue was up 29.6% compared to the same quarter last year. Newmont has generated $2.66 earnings per share over the last year ($3.57 diluted earnings per share) and currently has a price-to-earnings ratio of 16.2. Earnings for Newmont are expected to grow by 4.23% in the coming year, from $3.55 to $3.70 per share. Newmont has confirmed that its next quarterly earnings report will be published on Thursday, October 28th, 2021. Newmont will be holding an earnings conference call on Thursday, October 28th at 10:00 AM Eastern. Interested parties can or dial in at 412-317-0088 with passcode “10160453”.
Analyst Opinion on Newmont (NYSE:NEM)
According to the issued ratings of 10 analysts in the last year, the consensus rating for Newmont stock is Buy based on the current 4 hold ratings and 6 buy ratings for NEM. The average twelve-month price target for Newmont is $72.90 with a high price target of $105.00 and a low price target of $60.00.
Newmont has received a consensus rating of Buy. The company’s average rating score is 2.60, and is based on 6 buy ratings, 4 hold ratings, and no sell ratings. According to analysts’ consensus price target of $72.90, Newmont has a forecasted upside of 26.3% from its current price of $57.70. Newmont has only been the subject of 2 research reports in the past 90 days.
Dividend Strength: Newmont (NYSE:NEM)
Newmont is a leading dividend payer. It pays a dividend yield of 3.80%, putting its dividend yield in the top 25% of dividend-paying stocks. Newmont has only been increasing its dividend for 2 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 59.46% 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 $1,398,277.00 in company stock. Only 0.12% of the stock of Newmont is held by insiders. 77.76% 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 4.23% in the coming year, from $3.55 to $3.70 per share. The P/E ratio of Newmont is 16.16, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 15.21. The P/E ratio of Newmont is 16.16, which means that it is trading at a more expensive P/E ratio than the Basic Materials sector average P/E ratio of about 16.05. Newmont has a P/B Ratio of 1.94. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.
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