Newmont (NYSE:NEM – Get Free Report) issued its quarterly earnings results on Wednesday. The basic materials company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05), Briefing.com reports. The business had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The company’s revenue was up 84.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 earnings per share.
Newmont Price Performance
Newmont stock traded down $6.56 during trading hours on Thursday, hitting $51.18. 12,973,051 shares of the company traded hands, compared to its average volume of 10,151,539. The firm’s 50-day simple moving average is $53.43 and its two-hundred day simple moving average is $46.74. The firm has a market cap of $59.02 billion, a P/E ratio of -19.85, a P/E/G ratio of 0.43 and a beta of 0.50. Newmont has a 1-year low of $29.42 and a 1-year high of $58.72. The company has a quick ratio of 1.85, a current ratio of 2.11 and a debt-to-equity ratio of 0.31.
Insider Activity
In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $157,410.00. Following the sale, the executive vice president now owns 94,596 shares of the company’s stock, valued at $4,963,452.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total value of $1,049,400.00. Following the sale, the chief executive officer now directly owns 291,469 shares in the company, valued at $15,293,378.43. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $157,410.00. Following the sale, the executive vice president now owns 94,596 shares of the company’s stock, valued at $4,963,452.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,000 shares of company stock worth $3,434,640 over the last three months. Corporate insiders own 0.06% of the company’s stock.
Analysts Set New Price Targets
Check Out Our Latest Report on Newmont
About Newmont
Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.
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