The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Newmont Mining met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue contracted and GAAP earnings per share dropped significantly.
Margins contracted across the board.
Newmont Mining reported revenue of $2.48 billion. The seven analysts polled by S&P Capital IQ foresaw sales of $2.52 billion on the same basis. GAAP reported sales were 9.6% lower than the prior-year quarter's $2.74 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.85. The 17 earnings estimates compiled by S&P Capital IQ predicted $0.93 per share. GAAP EPS of $0.74 for Q3 were 24% lower than the prior-year quarter's $0.98 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 55.4%, 760 basis points worse than the prior-year quarter. Operating margin was 29.5%, 1,340 basis points worse than the prior-year quarter. Net margin was 14.8%, 320 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $2.88 billion. On the bottom line, the average EPS estimate is $1.24.
Next year's average estimate for revenue is $10.26 billion. The average EPS estimate is $3.86.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,153 members out of 1,238 rating the stock outperform, and 85 members rating it underperform. Among 282 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 264 give Newmont Mining a green thumbs-up, and 18 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Newmont Mining is outperform, with an average price target of $62.03.
Can your portfolio provide you with enough income to last through retirement? You'll need more than Newmont Mining. Learn how to maximize your investment income and "Secure Your Future With 9 Rock-Solid Dividend Stocks." Click here for instant access to this free report.
- Add Newmont Mining to My Watchlist.