Jefferies Financial Group Analysts Reduce Earnings Estimates for Newmont Goldcorp Corp (NYSE:NEM)

Share on StockTwits

Newmont Goldcorp Corp (NYSE:NEM) – Stock analysts at Jefferies Financial Group lowered their FY2019 EPS estimates for shares of Newmont Goldcorp in a report issued on Tuesday, July 9th. Jefferies Financial Group analyst C. Lafemina now anticipates that the basic materials company will post earnings per share of $1.17 for the year, down from their previous estimate of $1.18. Jefferies Financial Group also issued estimates for Newmont Goldcorp’s FY2020 earnings at $1.29 EPS and FY2021 earnings at $1.53 EPS.

Newmont Goldcorp (NYSE:NEM) last issued its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.07. The company had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Newmont Goldcorp had a return on equity of 6.13% and a net margin of 3.26%. The business’s revenue was down .8% on a year-over-year basis. During the same period last year, the business earned $0.35 earnings per share.

A number of other research firms have also recently issued reports on NEM. TheStreet cut Primeenergy Resources from a “b-” rating to a “c” rating in a report on Friday, July 5th. Raymond James set a $33.00 price target on LKQ and gave the company a “buy” rating in a report on Friday, April 26th. B. Riley initiated coverage on Smart Sand in a report on Tuesday, March 19th. They issued a “hold” rating and a $5.00 price target for the company. Barclays set a $192.00 price target on Tesla and gave the company a “sell” rating in a report on Tuesday, April 9th. Finally, Zacks Investment Research cut Hess Midstream Partners from a “hold” rating to a “sell” rating in a report on Tuesday, May 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $41.56.

Shares of NYSE NEM opened at $39.28 on Wednesday. The firm’s fifty day moving average is $35.94. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.62 and a current ratio of 2.97. Newmont Goldcorp has a 52-week low of $29.06 and a 52-week high of $39.40. The company has a market capitalization of $32.01 billion, a PE ratio of 29.10 and a beta of 0.04.

A number of hedge funds have recently made changes to their positions in NEM. Bessemer Group Inc. raised its position in shares of Newmont Goldcorp by 377.3% during the 4th quarter. Bessemer Group Inc. now owns 840 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 664 shares during the last quarter. Commonwealth Bank of Australia raised its position in shares of Newmont Goldcorp by 1.9% during the 4th quarter. Commonwealth Bank of Australia now owns 68,757 shares of the basic materials company’s stock worth $2,376,000 after purchasing an additional 1,293 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Newmont Goldcorp by 9.3% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 180,778 shares of the basic materials company’s stock worth $6,264,000 after purchasing an additional 15,404 shares during the last quarter. Berman Capital Advisors LLC acquired a new position in shares of Newmont Goldcorp during the 4th quarter worth about $30,000. Finally, Natixis Advisors L.P. raised its position in shares of Newmont Goldcorp by 57.1% during the 4th quarter. Natixis Advisors L.P. now owns 113,921 shares of the basic materials company’s stock worth $3,947,000 after purchasing an additional 41,416 shares during the last quarter. Hedge funds and other institutional investors own 60.72% of the company’s stock.

In related news, EVP Scott P. Lawson sold 3,000 shares of Newmont Goldcorp stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $38.60, for a total value of $115,800.00. Following the completion of the sale, the executive vice president now directly owns 127,545 shares in the company, valued at $4,923,237. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO John Kitlen sold 750 shares of Newmont Goldcorp stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $35.00, for a total value of $26,250.00. Following the completion of the sale, the chief accounting officer now owns 44,923 shares of the company’s stock, valued at $1,572,305. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,165 shares of company stock valued at $1,944,075. Corporate insiders own 0.44% of the company’s stock.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were given a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $0.56 dividend on an annualized basis and a yield of 1.43%. Newmont Goldcorp’s payout ratio is 41.48%.

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.

Featured Story: What is intrinsic value?

Earnings History and Estimates for Newmont Goldcorp (NYSE:NEM)

Receive News & Ratings for Newmont Goldcorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmont Goldcorp and related companies with MarketBeat.com's FREE daily email newsletter.