Raymond James Weighs in on Newmont Co.’s Q2 2024 Earnings (TSE:NGT)

Newmont Co. (TSE:NGT) – Investment analysts at Raymond James decreased their Q2 2024 earnings estimates for shares of Newmont in a report issued on Tuesday, April 16th. Raymond James analyst B. Macarthur now forecasts that the company will earn $0.48 per share for the quarter, down from their prior estimate of $0.50. The consensus estimate for Newmont’s current full-year earnings is $3.48 per share. Raymond James also issued estimates for Newmont’s Q4 2024 earnings at $0.72 EPS.

A number of other equities analysts have also recently commented on the stock. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Newmont in a research report on Monday, April 8th. National Bankshares dropped their target price on Newmont from C$71.00 to C$69.00 and set an “outperform” rating for the company in a report on Friday.

Newmont Price Performance

TSE:NGT opened at C$53.69 on Thursday. Newmont has a 1-year low of C$39.96 and a 1-year high of C$68.15. 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 firm has a fifty day simple moving average of C$47.27 and a 200 day simple moving average of C$49.95. The stock has a market capitalization of C$61.74 billion, a PE ratio of -13.06, a P/E/G ratio of 0.78 and a beta of 0.54.

Newmont (TSE:NGT) last announced its earnings results on Thursday, February 22nd. The company reported C$0.68 EPS for the quarter, missing the consensus estimate of C$0.70 by C($0.02). The company had revenue of C$5.39 billion for 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%.

Newmont Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 5th were issued a $0.336 dividend. This represents a $1.34 annualized dividend and a yield of 2.50%. The ex-dividend date was Monday, March 4th. Newmont’s payout ratio is presently -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.