FY2024 Earnings Estimate for Newmont Issued By Raymond James

Newmont Co. (TSE:NGT) – Stock analysts at Raymond James lowered their FY2024 earnings per share estimates for shares of Newmont in a report issued on Sunday, October 27th. Raymond James analyst B. Macarthur now expects that the company will earn $4.17 per share for the year, down from their previous forecast of $4.18. The consensus estimate for Newmont’s current full-year earnings is $5.51 per share. Raymond James also issued estimates for Newmont’s Q2 2025 earnings at $1.21 EPS, Q3 2025 earnings at $1.21 EPS, Q4 2025 earnings at $1.24 EPS and FY2025 earnings at $4.87 EPS.

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

Newmont Price Performance

TSE NGT opened at C$65.23 on Wednesday. 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 stock’s fifty day moving average price is C$72.44 and its 200 day moving average price is C$64.36. Newmont has a 1 year low of C$39.96 and a 1 year high of C$81.16. The company has a market cap of C$75.01 billion, a price-to-earnings ratio of -17.21, a PEG ratio of 1.43 and a beta of 0.51.

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

Newmont Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.338 per share. This represents a $1.35 annualized dividend and a yield of 2.07%. The ex-dividend date is Wednesday, November 27th. 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.