FY2024 Earnings Forecast for Newmont Issued By Raymond James

Newmont Co. (TSE:NGT) – Equities researchers at Raymond James dropped their FY2024 earnings per share (EPS) estimates for shares of Newmont in a research report issued to clients and investors on Monday, November 25th. Raymond James analyst B. Macarthur now forecasts that the company will post earnings of $4.08 per share for the year, down from their previous forecast of $4.11. The consensus estimate for Newmont’s current full-year earnings is $5.51 per share. Raymond James also issued estimates for Newmont’s Q4 2024 earnings at $1.21 EPS, Q2 2025 earnings at $1.06 EPS, Q3 2025 earnings at $1.08 EPS, Q4 2025 earnings at $1.12 EPS and FY2025 earnings at $4.38 EPS.

Several other brokerages have also issued reports on NGT. Argus upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. Scotiabank lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 25th. Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, UBS Group lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$68.00.

Newmont Trading Down 0.8 %

Shares of NGT opened at C$58.88 on Tuesday. Newmont has a 52-week low of C$39.96 and a 52-week high of C$81.16. The business’s fifty day moving average is C$68.54 and its 200-day moving average is C$65.10. The company has a debt-to-equity ratio of 31.20, a quick ratio of 1.77 and a current ratio of 2.11. The firm has a market cap of C$67.71 billion, a price-to-earnings ratio of -15.54, a PEG ratio of 1.43 and a beta of 0.51.

Newmont (TSE:NGT) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported C$1.11 earnings per share for the quarter, beating the consensus estimate of C$1.07 by C$0.04. Newmont had a negative return on equity of 8.09% and a negative net margin of 13.29%. The firm had revenue of C$6.28 billion during the quarter, compared to analysts’ expectations of C$5.79 billion.

Newmont Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be given a $0.338 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 2.30%. 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.