FY2024 EPS Estimates for Newmont Increased by Analyst

Newmont Co. (TSE:NGT) – Equities researchers at National Bank Financial upped their FY2024 earnings per share (EPS) estimates for Newmont in a research note issued to investors on Thursday, October 24th. National Bank Financial analyst M. Parkin now anticipates that the company will post earnings of $4.54 per share for the year, up from their previous forecast of $4.50. 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 $6.24 EPS.

Several other brokerages have also recently weighed in on NGT. Argus raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday. Finally, Scotiabank lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 25th. Three research analysts have rated the stock with a hold rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$68.00.

Newmont Trading Down 1.0 %

Shares of TSE NGT opened at C$66.53 on Monday. The business’s 50 day moving average is C$72.54 and its two-hundred day moving average is C$64.36. 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 stock has a market capitalization of C$76.51 billion, a P/E ratio of -17.55, a PEG ratio of 1.43 and a beta of 0.51.

Newmont (TSE:NGT) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported C$1.11 earnings per share for the quarter, topping 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 company had revenue of C$6.28 billion for the quarter, compared to analysts’ expectations of C$5.79 billion.

Newmont Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.338 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.35 annualized dividend and a dividend yield of 2.03%. Newmont’s dividend payout ratio (DPR) is presently -35.62%.

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.