Newmont Co. Expected to Earn Q3 2024 Earnings of $1.20 Per Share (TSE:NGT)

Newmont Co. (TSE:NGT) – Equities research analysts at Raymond James upped their Q3 2024 earnings per share estimates for Newmont in a research note issued on Monday, September 23rd. Raymond James analyst B. Macarthur now anticipates that the company will post earnings per share of $1.20 for the quarter, up from their previous forecast of $0.99. The consensus estimate for Newmont’s current full-year earnings is $7.09 per share. Raymond James also issued estimates for Newmont’s Q4 2024 earnings at $1.31 EPS, FY2024 earnings at $4.23 EPS, Q1 2025 earnings at $1.24 EPS, Q2 2025 earnings at $1.29 EPS, Q3 2025 earnings at $1.32 EPS, Q4 2025 earnings at $1.32 EPS and FY2025 earnings at $5.17 EPS.

Other analysts also recently issued research reports about the company. National Bankshares raised their price objective on Newmont from C$67.00 to C$68.00 and gave the stock a “sector perform” rating in a research report on Monday, June 10th. Argus upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. UBS Group raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Monday, June 17th. BNP Paribas raised Newmont to a “strong-buy” rating in a report on Friday, June 21st. Finally, Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a hold rating and five have assigned a strong buy rating to the stock. According to MarketBeat, Newmont has a consensus rating of “Strong Buy” and an average target price of C$68.00.

Newmont Stock Performance

TSE NGT opened at C$74.55 on Thursday. The company’s fifty day moving average is C$68.82 and its two-hundred day moving average is C$59.96. The firm has a market capitalization of C$85.73 billion, a price-to-earnings ratio of -19.93, a P/E/G ratio of 1.24 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 52-week low of C$39.96 and a 52-week high of C$75.64.

Newmont (TSE:NGT) last issued its quarterly earnings results on Wednesday, July 24th. The company reported C$0.99 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of C$4.79 billion.

Newmont Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 5th will be given a dividend of $0.342 per share. This is a boost from Newmont’s previous quarterly dividend of $0.34. The ex-dividend date is Thursday, September 5th. This represents a $1.37 annualized dividend and a dividend yield of 1.84%. Newmont’s payout ratio is currently -36.10%.

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.