National Bank Financial Weighs in on Newmont FY2024 Earnings

Newmont Co. (TSE:NGT) – Investment analysts at National Bank Financial increased their FY2024 earnings per share (EPS) estimates for 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 previous forecast 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.

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

Other analysts have also recently issued reports about the company. Scotiabank cut Newmont from a “strong-buy” rating to a “hold” rating in a research report on Friday. Argus raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 29th. Finally, Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Two analysts have rated the stock with a hold rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, Newmont presently has an average rating of “Buy” and a consensus target price of C$68.00.

Newmont Stock Performance

TSE NGT opened at C$67.33 on Friday. The company has a fifty day moving average of C$72.67 and a two-hundred day moving average of C$64.09. 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 company has a market capitalization of C$77.43 billion, a PE ratio of -17.77, a P/E/G ratio of 1.43 and a beta of 0.51.

Newmont Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be given a $0.338 dividend. This represents a $1.35 annualized dividend and a yield of 2.01%. The ex-dividend date is Wednesday, November 27th. 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.