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Earnings Previews: American Express, Cleveland-Cliffs, Newmont, Schlumberger, Verizon

The stock trades at 5.4 times expected 2022 EPS, 8.1 times estimated 2023 earnings of $3.76 and 12 times estimated 2024 earnings of $2.53 per share. The stock’s 52-week range is $15.81 to $34.04, and the company does not pay an annual dividend. Total shareholder return over the past year was 83.2%.

Newmont

Over the past 12 months, the price of gold has increased by about 9.65%, and nearly all that gain has come since the end of January. Newmont Corp. (NYSE: NEM) has seen its share price rise by about 31.2% over the same 12-month period, and more than all that gain has come since late January.

Newmont recently acquired the last 5% interest outstanding in the Yanacocha gold mine in Peru after paying about $300 million to Buenaventura for a near-44% stake in February. That earlier deal included the transfer to Buenaventura of Newmont’s 47% stake in another joint venture. Yanacocha is reportedly the largest gold mine in South America.

Analysts remain cautious on Newmont stock, with 12 of 20 brokerages giving the shares a Hold rating, while the rest have Buy or Strong Buy ratings. At a share price of around $82.40, the stock has outrun its median price target of $72.00. At the high price target of $96.00, the upside potential is 6.3%.

First-quarter revenue is forecast at $3.05 billion, down 10.1% sequentially and flat year over year. Adjusted EPS are forecast at $0.73, down 6.5% sequentially and down by a penny year over year. For the full 2022 fiscal year, estimates call for EPS of $3.24, up 9.3%, on sales of $13.11 billion, up 7.2%.

Newmont stock trades at 25.5 times expected 2022 earnings, 26.4 times estimated 2023 earnings of $3.11 and 27.0 times estimated 2024 earnings of $3.05 per share. The stock’s 52-week range is $52.60 to $89.37. Newmont pays an annual dividend of $2.20 (yield of 2.67%). Total shareholder return for the past year was 29.4%.

Schlumberger

The largest U.S.-based oilfield services company, Schlumberger Ltd. (NYSE: SLB) has seen its stock price rise by nearly 61% over the past 12 months, less than its two main rivals, Baker Hughes and Halliburton. Like its competitors, Schlumberger has suspended its operations in Russia, which accounted for about 5% of Schlumberger’s sales last year.

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