Raymond James Weighs in on Newmont Co.’s Q4 2024 Earnings (TSE:NGT)

Newmont Co. (TSE:NGT) – Investment analysts at Raymond James boosted their Q4 2024 earnings estimates for Newmont in a research note issued on Tuesday, September 10th. Raymond James analyst B. Macarthur now forecasts that the company will post earnings per share of $1.05 for the quarter, up from their prior estimate of $1.01. The consensus estimate for Newmont’s current full-year earnings is $6.85 per share.

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

Several other research firms have also recently commented on NGT. BNP Paribas upgraded Newmont to a “strong-buy” rating in a report on Friday, June 21st. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. National Bankshares boosted their target price on Newmont from C$67.00 to C$68.00 and gave the stock a “sector perform” rating in a report on Monday, June 10th. Argus upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 29th. Finally, UBS Group upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Monday, June 17th. One analyst has rated the stock with a hold rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Strong Buy” and an average target price of C$68.00.

Newmont Trading Up 1.5 %

TSE:NGT opened at C$73.00 on Friday. The stock has a fifty day simple moving average of C$67.42 and a 200-day simple moving average of C$58.44. Newmont has a 52-week low of C$39.96 and a 52-week high of C$73.60. The company has a market capitalization of C$83.95 billion, a PE ratio of -19.62, a price-to-earnings-growth ratio of 1.24 and a beta of 0.51. The company has a quick ratio of 1.77, a current ratio of 2.11 and a debt-to-equity ratio of 31.20.

Newmont Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be given a dividend of $0.342 per share. This is a positive change from Newmont’s previous quarterly dividend of $0.34. This represents a $1.37 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Thursday, September 5th. Newmont’s dividend payout ratio is currently -36.29%.

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.