National Bank Financial Estimates Newmont FY2024 Earnings

Newmont Co. (TSE:NGT) – Equities research analysts at National Bank Financial increased their FY2024 EPS estimates for Newmont in a report released on Tuesday, October 22nd. National Bank Financial analyst M. Parkin now expects that the company will post earnings of $4.50 per share for the year, up from their prior forecast of $4.02. 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 $6.10 EPS.

Newmont (TSE:NGT) last posted its quarterly earnings data on Wednesday, July 24th. The company reported C$0.99 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.72 by C$0.27. Newmont had a negative net margin of 13.29% and a negative return on equity of 8.09%. The company had revenue of C$6.02 billion for the quarter, compared to analyst estimates of C$4.79 billion.

A number of other equities analysts have also recently issued reports on NGT. Scotiabank upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Monday, August 19th. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Finally, Argus upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 29th. One investment analyst has rated the stock with a hold rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Strong Buy” and a consensus price target of C$68.00.

Newmont Trading Down 14.7 %

NGT opened at C$68.19 on Friday. The company has a debt-to-equity ratio of 31.20, a quick ratio of 1.77 and a current ratio of 2.11. The stock’s 50 day moving average price is C$72.68 and its 200-day moving average price is C$63.90. Newmont has a one year low of C$39.96 and a one year high of C$81.16. The stock has a market cap of C$78.42 billion, a price-to-earnings ratio of -17.99, a P/E/G ratio of 1.43 and a beta of 0.51.

Newmont Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.338 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.35 annualized dividend and a dividend yield of 1.98%. Newmont’s dividend payout ratio is currently -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.