National Bank Financial Equities Analysts Decrease Earnings Estimates for Newmont Co. (TSE:NGT)

Newmont Co. (TSE:NGT) – Research analysts at National Bank Financial dropped their FY2024 earnings estimates for shares of Newmont in a research note issued to investors on Monday, May 27th. National Bank Financial analyst M. Parkin now forecasts that the company will earn $3.24 per share for the year, down from their previous estimate of $3.33. National Bank Financial has a “Sector Perform Overweight” rating on the stock. The consensus estimate for Newmont’s current full-year earnings is $4.52 per share. National Bank Financial also issued estimates for Newmont’s FY2025 earnings at $3.64 EPS.

Separately, National Bankshares lowered Newmont from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from C$69.00 to C$68.00 in a report on Wednesday, May 1st.

Newmont Stock Performance

TSE NGT opened at C$57.01 on Thursday. The firm has a market capitalization of C$65.56 billion, a P/E ratio of -12.75, a PEG ratio of 0.78 and a beta of 0.49. The stock has a 50-day simple moving average of C$54.79 and a two-hundred day simple moving average of C$51.08. The company has a debt-to-equity ratio of 32.56, a quick ratio of 1.77 and a current ratio of 2.15. Newmont has a fifty-two week low of C$39.96 and a fifty-two week high of C$60.50.

Newmont (TSE:NGT) last issued its earnings results on Thursday, April 25th. The company reported C$0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.48 by C$0.26. Newmont had a negative net margin of 20.33% and a negative return on equity of 10.98%. The firm had revenue of C$5.42 billion during the quarter, compared to analysts’ expectations of C$4.59 billion.

Newmont Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be given a dividend of $0.338 per share. This represents a $1.35 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Tuesday, June 4th. This is a positive change from Newmont’s previous quarterly dividend of $0.34. Newmont’s dividend payout ratio (DPR) is currently -30.65%.

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.