Newmont Co. (TSE:NGT) Expected to Post Q2 2024 Earnings of $0.84 Per Share

Newmont Co. (TSE:NGT) – Research analysts at Raymond James boosted their Q2 2024 earnings per share (EPS) estimates for shares of Newmont in a research note issued to investors on Tuesday, April 23rd. Raymond James analyst B. Macarthur now expects that the company will post earnings of $0.84 per share for the quarter, up from their prior forecast of $0.48. The consensus estimate for Newmont’s current full-year earnings is $3.48 per share. Raymond James also issued estimates for Newmont’s Q3 2024 earnings at $1.07 EPS, Q4 2024 earnings at $1.12 EPS and FY2024 earnings at $3.51 EPS.

Newmont (TSE:NGT) last posted its earnings results on Thursday, February 22nd. The company reported C$0.68 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.70 by C($0.02). The business had revenue of C$5.39 billion during the quarter, compared to analyst estimates of C$4.37 billion. Newmont had a negative return on equity of 10.23% and a negative net margin of 21.11%.

NGT has been the topic of a number of other research reports. National Bank Financial restated an “outperform overweight” rating on shares of Newmont in a research note on Monday, April 8th. National Bankshares reduced their price objective on Newmont from C$71.00 to C$69.00 and set an “outperform” rating for the company in a research note on Friday, April 19th.

Newmont Trading Down 1.5 %

TSE NGT opened at C$58.38 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.77 and a debt-to-equity ratio of 32.67. The business has a fifty day simple moving average of C$48.30 and a 200 day simple moving average of C$50.09. Newmont has a 12 month low of C$39.96 and a 12 month high of C$68.15. The firm has a market capitalization of C$67.14 billion, a P/E ratio of -14.20, a PEG ratio of 0.78 and a beta of 0.54.

Newmont Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th will be given a $0.338 dividend. The ex-dividend date is Tuesday, June 4th. This is a boost from Newmont’s previous quarterly dividend of $0.34. This represents a $1.35 annualized dividend and a dividend yield of 2.32%. Newmont’s payout ratio is -33.09%.

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.