What is Raymond James’ Estimate for Newmont FY2024 Earnings?

Newmont Co. (TSE:NGT) – Analysts at Raymond James lowered their FY2024 earnings estimates for Newmont in a research report issued to clients and investors on Monday, November 25th. Raymond James analyst B. Macarthur now expects that the company will post earnings per share of $4.08 for the year, down from their prior forecast of $4.11. The consensus estimate for Newmont’s current full-year earnings is $5.51 per share. Raymond James also issued estimates for Newmont’s Q4 2024 earnings at $1.21 EPS, Q2 2025 earnings at $1.06 EPS, Q3 2025 earnings at $1.08 EPS, Q4 2025 earnings at $1.12 EPS and FY2025 earnings at $4.38 EPS.

Other analysts also recently issued research reports about the stock. UBS Group downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Argus upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Scotiabank cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$68.00.

Newmont Price Performance

Shares of NGT opened at C$59.26 on Tuesday. The company has a quick ratio of 1.77, a current ratio of 2.11 and a debt-to-equity ratio of 31.20. Newmont has a 12-month low of C$39.96 and a 12-month high of C$81.16. The stock has a market cap of C$68.15 billion, a P/E ratio of -15.64, a P/E/G ratio of 1.43 and a beta of 0.51. The business’s fifty day moving average is C$69.07 and its 200 day moving average is C$65.09.

Newmont (TSE:NGT) last announced its earnings results on Wednesday, October 23rd. The company reported C$1.11 EPS for the quarter, topping the consensus estimate of C$1.07 by C$0.04. The firm had revenue of C$6.28 billion for the quarter, compared to the consensus estimate of C$5.79 billion. Newmont had a negative return on equity of 8.09% and a negative net margin of 13.29%.

Newmont Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders 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 yield of 2.28%. Newmont’s dividend payout ratio is -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.