National Bank Financial Predicts Newmont FY2024 Earnings

Newmont Co. (TSE:NGT) – Equities researchers at National Bank Financial increased their FY2024 earnings estimates for Newmont in a research report issued on Thursday, October 24th. National Bank Financial analyst M. Parkin now expects that the company will earn $4.54 per share for the year, up from their previous estimate 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 research firms have also weighed in on NGT. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Argus raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Scotiabank lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Newmont has an average rating of “Buy” and an average price target of C$68.00.

Newmont Price Performance

NGT stock opened at C$67.33 on Monday. The company has a market cap of C$77.43 billion, a PE ratio of -17.77, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. The company has a current ratio of 2.11, a quick ratio of 1.77 and a debt-to-equity ratio of 31.20. The stock has a 50-day moving average price of C$72.67 and a two-hundred day moving average price of C$64.17. Newmont has a 12-month low of C$39.96 and a 12-month high of C$81.16.

Newmont (TSE:NGT) last announced its quarterly earnings data 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. 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 net margin of 13.29% and a negative return on equity of 8.09%.

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 dividend of $0.338 per share. 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.