Raymond James Equities Analysts Increase Earnings Estimates for Newmont Co. (TSE:NGT)

Newmont Co. (TSE:NGT) – Stock analysts at Raymond James increased their Q2 2024 EPS estimates for Newmont in a note issued to investors on Monday, July 8th. Raymond James analyst B. Macarthur now forecasts that the company will post earnings per share of $0.82 for the quarter, up from their previous estimate of $0.81. The consensus estimate for Newmont’s current full-year earnings is $4.52 per share.

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

Newmont Stock Up 0.8 %

NGT stock opened at C$64.78 on Thursday. The firm has a market cap of C$74.50 billion, a PE ratio of -14.49, a P/E/G ratio of 0.78 and a beta of 0.49. The company has a debt-to-equity ratio of 32.56, a quick ratio of 1.77 and a current ratio of 2.15. The firm’s fifty day moving average is C$58.00 and its 200 day moving average is C$52.07. Newmont has a one year low of C$39.96 and a one year high of C$65.43.

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

Newmont Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th were paid a dividend of $0.338 per share. The ex-dividend date was Tuesday, June 4th. This is an increase from Newmont’s previous quarterly dividend of $0.34. This represents a $1.35 dividend on an annualized basis and a yield of 2.09%. Newmont’s payout ratio is -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.