Newmont Mining Corp (NEM) Releases Earnings Results, Beats Expectations By $0.14 EPS

Newmont Mining Corp (NEM) reported quarterly earnings results on Wednesday, Jul-20-2016. The company said it had a profit of $0.44 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.14. Analysts had a consensus of $0.30. The company posted revenue of $2038.00 million in the period, compared to analysts expectations of $1898.09 million. The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS.

Many Wall Street Analysts have commented on Newmont Mining Corp. Company shares were Reiterated by FBR Capital on Jul 20, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 39 from a previous price target of $31 .Newmont Mining Corp was Downgraded by Jefferies to ” Hold” on Jun 2, 2016. Newmont Mining Corp was Upgraded by Goldman to ” Buy” on May 11, 2016.

Newmont Mining Corp opened for trading at $41.42 and hit $41.63 on the upside on Monday, eventually ending the session at $41.63, with a gain of 0.73% or 0.3 points. The heightened volatility saw the trading volume jump to 43,72,680 shares. Company has a market cap of $22,086 M.

In a different news, on May 5, 2015, Thomas P Mahoney (Vice President and Treasurer) sold 692 shares at $26.05 per share price. According to the SEC, on May 5, 2015, Stephen P Gottesfeld (EVP and General Counsel) sold 94 shares at $26.04 per share price. On Mar 20, 2015, Elaine J Dorward-king (EVP, S&ER and Comms) sold 716 shares at $22.91 per share price, according to the Form-4 filing with the securities and exchange commission.

Newmont Mining Corporation (Newmont) is a global mining company which is focused on the production of and exploration for gold and copper. The Company is primarily a gold producer with operations and/or assets in the United States Australia Peru Indonesia Ghana New Zealand and Suriname. The Company’s business segments include North America South America Asia Pacific and Africa. The Company’s North America segment consists primarily of Carlin Phoenix CC&V and Twin Creeks in the state of Nevada in the United States. The Company’s South America segment consists primarily of Yanacocha in Peru. The Company’s Asia Pacific segment consists primarily of Boddington Tanami and Kalgoorlie in Australia and Batu Hijau in Indonesia. The Company’s Africa segment consists primarily of Ahafo and Akyem in Ghana. The Company’s product at its gold operations is dore bars. Dore is an alloy consisting primarily of gold as well as silver and other metals.

Newmont Mining Corp

Leave a Reply

Newmont Mining Corp - Is it time to Sell?

Top Brokerage Firms are advising their investors on Newmont Mining Corp. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.