Raymond James Brokers Reduce Earnings Estimates for Newmont

Newmont Co. (TSE:NGT) – Research analysts at Raymond James lowered their Q4 2024 EPS estimates for Newmont in a report released on Sunday, October 27th. Raymond James analyst B. Macarthur now expects that the company will post earnings per share of $1.28 for the quarter, down from their previous forecast of $1.31. The consensus estimate for Newmont’s current full-year earnings is $5.51 per share. Raymond James also issued estimates for Newmont’s Q1 2025 earnings at $1.20 EPS.

Newmont (TSE:NGT) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported C$1.11 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.07 by C$0.04. The business had revenue of C$6.28 billion for the quarter, compared to analyst estimates of C$5.79 billion. Newmont had a negative net margin of 13.29% and a negative return on equity of 8.09%.

NGT has been the subject of several other reports. Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday. Scotiabank downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th. Finally, Argus raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 29th. Three equities research analysts have rated the stock with a hold rating and three have given a strong buy rating to the company. According to data from MarketBeat, Newmont presently has a consensus rating of “Buy” and an average price target of C$68.00.

Newmont Stock Performance

TSE:NGT opened at C$66.53 on Tuesday. Newmont has a 12 month low of C$39.96 and a 12 month high of C$81.16. The company has a debt-to-equity ratio of 31.20, a current ratio of 2.11 and a quick ratio of 1.77. The firm has a market capitalization of C$76.51 billion, a PE ratio of -17.55, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. The business’s fifty day moving average price is C$72.54 and its 200 day moving average price is C$64.36.

Newmont Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.338 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 2.03%. Newmont’s dividend payout ratio (DPR) is presently -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.