National Bank Financial Comments on Newmont Q3 Earnings

Newmont Co. (TSE:NGT) – Investment analysts at National Bank Financial issued their Q3 2024 EPS estimates for Newmont in a research note issued to investors on Tuesday, October 22nd. National Bank Financial analyst M. Parkin expects that the company will post earnings per share of $1.20 for the quarter. The consensus estimate for Newmont’s current full-year earnings is $5.51 per share.

Newmont (TSE:NGT) last announced 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 during the quarter, compared to analyst estimates of C$4.79 billion.

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

Newmont Price Performance

Shares of TSE NGT opened at C$68.19 on Thursday. Newmont has a twelve month low of C$39.96 and a twelve month high of C$81.16. The firm has a market cap of C$78.42 billion, a P/E ratio of -17.98, a PEG ratio of 1.43 and a beta of 0.51. The company has a 50 day moving average of C$72.68 and a 200 day moving average of C$63.90. The company has a quick ratio of 1.77, a current ratio of 2.11 and a debt-to-equity ratio of 31.20.

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.