Analysts Issue Forecasts for Newmont FY2024 Earnings

Newmont Co. (TSE:NGT) – Research analysts at National Bank Financial lifted their FY2024 EPS estimates for shares of Newmont in a research note issued on Tuesday, October 22nd. National Bank Financial analyst M. Parkin now expects that the company will post earnings of $4.50 per share for the year, up from their prior estimate of $4.02. The consensus estimate for Newmont’s current full-year earnings is $5.51 per share. National Bank Financial also issued estimates for Newmont’s FY2025 earnings at $6.10 EPS.

NGT has been the subject of a number of other research reports. Argus upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. Scotiabank upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 19th. Finally, Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a hold rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Strong Buy” and a consensus target price of C$68.00.

Newmont Trading Down 14.7 %

NGT stock opened at C$68.19 on Friday. The company has a market capitalization of C$78.42 billion, a price-to-earnings ratio of -17.99, a PEG ratio of 1.43 and a beta of 0.51. The company has a debt-to-equity ratio of 31.20, a current ratio of 2.11 and a quick ratio of 1.77. Newmont has a 1-year low of C$39.96 and a 1-year high of C$81.16. The business has a 50 day simple moving average of C$72.68 and a two-hundred day simple moving average of C$63.90.

Newmont (TSE:NGT) last issued its earnings results on Wednesday, July 24th. The company reported C$0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.72 by C$0.27. Newmont had a negative return on equity of 8.09% and a negative net margin of 13.29%. The company had revenue of C$6.02 billion for the quarter, compared to the consensus estimate of C$4.79 billion.

Newmont Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be issued a $0.338 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 1.98%. Newmont’s dividend payout ratio (DPR) is presently -35.62%.

Newmont Company Profile

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.