Q4 2024 Earnings Forecast for Newmont Co. (TSE:NGT) Issued By Raymond James

Newmont Co. (TSE:NGT) – Equities research analysts at Raymond James lowered their Q4 2024 earnings per share (EPS) estimates for shares of Newmont in a research note issued to investors on Monday, July 8th. Raymond James analyst B. Macarthur now anticipates that the company will post earnings of $1.01 per share for the quarter, down from their prior estimate of $1.02. The consensus estimate for Newmont’s current full-year earnings is $4.52 per share. Raymond James also issued estimates for Newmont’s Q1 2025 earnings at $0.72 EPS, Q2 2025 earnings at $0.78 EPS, Q3 2025 earnings at $0.80 EPS, Q4 2025 earnings at $0.83 EPS and FY2025 earnings at $3.12 EPS.

A number of other equities research analysts have also recently issued reports on the stock. National Bankshares boosted their target price on shares of Newmont from C$67.00 to C$68.00 and gave the company a “sector perform” rating in a report on Monday, June 10th. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday. UBS Group raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Monday, June 17th. National Bank Financial downgraded shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a report on Tuesday, April 30th. Finally, BNP Paribas upgraded shares of Newmont to a “strong-buy” rating in a research report on Friday, June 21st. Two research analysts have rated the stock with a hold rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$59.00.

Newmont Price Performance

Newmont stock opened at C$64.27 on Wednesday. The business’s 50 day simple moving average is C$57.82 and its 200 day simple moving average is C$52.01. Newmont has a 12 month low of C$39.96 and a 12 month high of C$64.36. The company has a market cap of C$73.91 billion, a price-to-earnings ratio of -14.38, a PEG ratio of 0.78 and a beta of 0.49. The company has a current ratio of 2.15, a quick ratio of 1.77 and a debt-to-equity ratio of 32.56.

Newmont (TSE:NGT) last announced its earnings results on Thursday, April 25th. The company reported C$0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.48 by C$0.26. The firm had revenue of C$5.42 billion during the quarter, compared to analyst estimates of C$4.59 billion. Newmont had a negative return on equity of 10.98% and a negative net margin of 20.33%.

Newmont Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th were given a $0.338 dividend. This is a positive change from Newmont’s previous quarterly dividend of $0.34. This represents a $1.35 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend was Tuesday, June 4th. Newmont’s dividend payout ratio (DPR) is currently -30.65%.

About Newmont

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.