Newmont Mining Corporation (NYSE:NEM) is projected to declare fiscal fourth quarter financial results right before the stock market’s official open on February 23, 2017. The stock lost about -2.1 percent in price since last results when it was at $36.13 a share. Based on the most relevant past-periods data, there is an 50 percent probability for this firm’s share price to go up following next quarterly results. Earnings reaction history tells us that the equity price moved up 14 times out of last 28 reported quarters. It has beaten earnings-per-share estimates 66% of the time in its last 12 earnings reports. It fell short of earnings estimates on 2 occasions, and it has met expectations 2 times.
Here’s how traders responded to NEM earnings announcements over the past few quarters.
Newmont Mining Corporation (NEM) Earnings Surprises & Reaction
Given its history, the average earnings announcement surprise was 11.9 percent over the past four quarters. Back on October 26, 2016, it posted earnings per-share earnings at $0.51 which came in line with the consensus $0.51 projection (no surprise). For the quarter, revenue came in at 1.79B versus consensus estimate of 1.91B. The stock dropped -3.85 percent the session following the earnings reports were released, and on 7th day price change was 2.74 percent.
On July 20, 2016, it reported earnings at $0.44 a share compared with the consensus estimate of $0.28 per share (positive surprise of 57.14%). Revenue of 2.04B for that quarter was above the $1.94B analysts had expected. The stock climbed 3.11% the day following the earnings announcement, and on 7th day price change was 7.7%.
On April 20, 2016, it recorded $0.34 a share in earnings which topped the consensus estimate of $0.21 (positive surprise of 61.9%). Revenue for the quarter was $2.03B while analysts called for revenues to be $1.87B. The stock gained 5.73% the day following the earnings data was made public, and on 7th day price change was 5.43%.
On February 17, 2016, it announced earnings per share at $0.04 versus the consensus estimate of $0.14 per share (negative surprise of -71.43%). That came on revenues of $1.82B for that period. Analysts had expected $1.82B in revenue.
Newmont Mining Corporation Earnings Estimates
As Q4 earnings announcement date approaches, Wall Street is expecting earnings per share of $0.31. The analysts’ present consensus range is $0.19-$0.46 for EPS. The market consensus range for revenue is between $1.68B and $1.9B, with an average of $1.79B.
Newmont Mining Corporation (NYSE:NEM) last ended at $35.08, sending the company’s market cap near $18.62B. The consensus 12-month price target from analysts covering the stock is $40.53. The share price has declined -23.69% from its top level in 52 weeks and dropped 2.96% this year. It recently traded in a range of $34.85-$36.17 at a volume of 7579435 shares. The recent trading ended with the price nearly 1.3 higher for the last 5 trading days, rebounding 119.39% from its 52-week low.