Zacks Research Has Positive View of Newmont FY2024 Earnings

Newmont Co. (TSE:NGT) – Stock analysts at Zacks Research raised their FY2024 earnings per share estimates for Newmont in a report released on Tuesday, November 5th. Zacks Research analyst A. Barman now forecasts that the company will earn $4.24 per share for the year, up from their previous estimate of $4.02. The consensus estimate for Newmont’s current full-year earnings is $5.51 per share. Zacks Research also issued estimates for Newmont’s Q4 2024 earnings at $1.36 EPS, Q1 2025 earnings at $0.97 EPS, Q2 2025 earnings at $1.02 EPS, Q4 2025 earnings at $1.46 EPS, FY2025 earnings at $4.72 EPS, Q1 2026 earnings at $1.50 EPS, Q2 2026 earnings at $1.33 EPS and Q3 2026 earnings at $1.52 EPS.

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

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

Newmont Trading Up 0.1 %

Newmont stock opened at C$62.71 on Thursday. The firm’s 50 day moving average price is C$71.54 and its two-hundred day moving average price is C$64.70. The firm has a market cap of C$72.12 billion, a price-to-earnings ratio of -16.55, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. The company has a debt-to-equity ratio of 31.20, a quick ratio of 1.77 and a current ratio of 2.11. Newmont has a 1 year low of C$39.96 and a 1 year high of C$81.16.

Newmont Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be paid a $0.338 dividend. This represents a $1.35 annualized dividend and a yield of 2.16%. The ex-dividend date is Wednesday, November 27th. Newmont’s payout ratio is -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.