Q4 2016 EPS Estimates for Newmont Mining Corp. Cut by the FBR & Co (NEM)

Q4 2016 EPS Estimates for Newmont Mining Corp. Cut by the FBR & Co (NEM)

Newmont Mining Corp. (NYSE:NEM) – Analysts at FBR & Co reduced their Q4 2016 earnings per share (EPS) estimates for Newmont Mining Corp. in a research report issued to clients and investors on Thursday. FBR & Co analyst L. Pipes now forecasts that the brokerage will post earnings of $0.63 per share for the quarter, down from their previous forecast of $0.65. FBR & Co has a “Market Perform” rating and a $39.00 price objective on the stock. FBR & Co also issued estimates for Newmont Mining Corp.’s Q1 2017 earnings at $0.33 EPS, Q2 2017 earnings at $0.35 EPS, Q3 2017 earnings at $0.33 EPS, Q4 2017 earnings at $0.33 EPS, FY2017 earnings at $1.33 EPS and FY2018 earnings at $0.78 EPS.

Newmont Mining Corp. (NYSE:NEM) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by $0.12. Newmont Mining Corp. had a positive return on equity of 4.94% and a negative net margin of 6.99%. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the previous year, the business earned $0.23 earnings per share. The company’s revenue was up 6.8% on a year-over-year basis.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research raised shares of Newmont Mining Corp. from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research note on Tuesday, July 26th. Argus reissued a “hold” rating on shares of Newmont Mining Corp. in a research note on Wednesday, July 27th. Citigroup Inc. reaffirmed a “buy” rating on shares of Newmont Mining Corp. in a research note on Monday, October 17th. Mackie raised shares of Newmont Mining Corp. from a “hold” rating to a “buy” rating in a research note on Monday, October 31st. Finally, Barclays PLC raised shares of Newmont Mining Corp. from an “equal weight” rating to an “overweight” rating and set a $45.00 price objective on the stock in a research note on Monday, October 17th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of C$38.65.

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Shares of Newmont Mining Corp. (NYSE:NEM) opened at 31.59 on Monday. The firm’s market capitalization is $16.77 billion. The company’s 50 day moving average is $36.26 and its 200-day moving average is $37.89. Newmont Mining Corp. has a one year low of $16.05 and a one year high of $46.07.

A number of hedge funds and other institutional investors have recently modified their holdings of NEM. Atria Investments LLC bought a new position in shares of Newmont Mining Corp. during the second quarter worth about $838,000. Gulf International Bank UK Ltd increased its position in shares of Newmont Mining Corp. by 4.4% in the second quarter. Gulf International Bank UK Ltd now owns 159,948 shares of the company’s stock worth $6,257,000 after buying an additional 6,700 shares during the last quarter. Smith Affiliated Capital Corp. increased its position in shares of Newmont Mining Corp. by 194.1% in the second quarter. Smith Affiliated Capital Corp. now owns 5,000 shares of the company’s stock worth $196,000 after buying an additional 3,300 shares during the last quarter. Cabot Wealth Management Inc. bought a new position in shares of Newmont Mining Corp. during the second quarter worth about $3,417,000. Finally, Exxonmobil Investment Management Inc. TX increased its position in shares of Newmont Mining Corp. by 6.6% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 137,328 shares of the company’s stock worth $5,372,000 after buying an additional 8,490 shares during the last quarter. 80.62% of the stock is currently owned by institutional investors and hedge funds.

In other Newmont Mining Corp. news, EVP William N. Macgowan sold 2,006 shares of the business’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of C$37.53, for a total transaction of C$75,285.18. Following the transaction, the executive vice president now directly owns 96,773 shares of the company’s stock, valued at approximately C$3,631,890.69. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Scott P. Lawson sold 1,500 shares of the business’s stock in a transaction on Tuesday, October 25th. The shares were sold at an average price of C$35.99, for a total transaction of C$53,985.00. Following the transaction, the executive vice president now directly owns 44,795 shares in the company, valued at C$1,612,172.05. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by corporate insiders.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Thursday, December 8th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.63%. This is an increase from Newmont Mining Corp.’s previous quarterly dividend of $0.03. The ex-dividend date is Tuesday, December 6th. Newmont Mining Corp.’s payout ratio is presently -9.71%.

Newmont Mining Corp. Company Profile

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