Newmont Mining Corp. Announces 114% Increase In Q4 Earnings

Other hedge funds also recently added to or reduced their stakes in the company.

Newmont Mining Corporation (NYSE:NEM) traded at an unexpectedly low level on 02/21/2017 when the stock experienced a 1.16 loss to a closing price of $37.44. Emerald Acquisition Ltd. now owns 540,144 shares of the company's stock worth $21,222,000 after buying an additional 122,063 shares during the last quarter. The mean revenue estimate for the current fiscal period ending March 2017 is $2.94B by 34 brokerage firms. Cohen & Steers Inc. now owns 4,279,959 shares of the company's stock worth $80,121,000 after buying an additional 4,235,096 shares in the last quarter. The stock presently has a consensus rating of "Buy" and an average target price of $40.62.

This is an increase over the company's revenue of $1.45 billion in the fourth quarter of 2015.

This is an increase over its losses per share of 3 cents from the same time a year ago.

Here are a few things to know about Newmont Mining Corp's earnings report for the fourth quarter of the year. Corporate insiders own 0.22% of the company's stock.

In recent action, Newmont Mining Corporation (NEM) has made a move of +4.35% over the past month, which has come on weak relative transaction volume. The stock's 50 day moving average price is $35.88 and its 200 day moving average price is $36.86. The Stock now has the market capitalization of $19.94 Billion, P/E (price to earnings ttm) of 0 and Weekly volatility of 1.83% and monthly volatility of 2.18% respectively. Vetr upgraded shares of Newmont Mining Corporation from a "buy" rating to a "strong-buy" rating and set a $35.58 target price on the stock in a research note on Wednesday, December 14th. According to their observations and findings, the stock could provide a high EPS of $0.54/share and a Low EPS of $0.16/share. The ex-dividend date of this dividend is Tuesday, March 7th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.53%.

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Newmont Mining Corporation (NYSE:NEM) reports its Earnings on Today. The reported earnings per share topped the analyst's consensus by $0.01 with the percentage difference between estimated and actual earnings arriving at 2.00%. The Closing price of Newmont Mining Corporation (NYSE:NEM) at Last Earnings was $36.13 as compared to the previous closing price of $37.57. Finally, Zacks Investment Research cut shares of Newmont Mining Corporation from a "buy" rating to a "hold" rating in a research note on Friday, November 4th. Scotiabank lowered Newmont Mining Corporation from an "outperform" rating to a "sector perform" rating and set a $42.00 price objective on the a research note on Tuesday, January 10th. Analysts believe that we could see stock price minimum in the $25 range (lowest target price), allowing for another -33.23% drop from its current position. Credit Suisse Group reiterated a "buy" rating and issued a $51.00 target price on shares of Newmont Mining Corporation in a research note on Tuesday, December 20th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. For the week, the shares have posted returns of -1.46%.A block trade registered during the day has revealed $0.5 million in upticks and $3.28 million in downticks. The company's shares were closed at $42.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Newmont Mining Corp also says it expects gold production to increase to between 4.9 and 5.4 million ounces in 2017.

  • Zachary Reyes