FY2024 Earnings Forecast for Newmont Issued By Raymond James

Newmont Co. (TSE:NGT) – Research analysts at Raymond James raised their FY2024 earnings estimates for shares of Newmont in a research note issued on Monday, January 27th. Raymond James analyst B. Macarthur now forecasts that the company will post earnings per share of $4.19 for the year, up from their prior forecast of $4.08. 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 $1.15 EPS, Q3 2025 earnings at $1.07 EPS and FY2025 earnings at $4.39 EPS.

Other equities analysts have also issued research reports about the company. UBS Group lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group raised shares of Newmont to a “strong-buy” rating in a report on Monday, January 13th. Citigroup dropped their price objective on shares of Newmont from C$66.00 to C$45.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Finally, Scotiabank downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and a consensus target price of C$56.50.

Newmont Price Performance

NGT opened at C$59.98 on Wednesday. The stock’s 50 day moving average price is C$57.54 and its 200-day moving average price is C$64.93. Newmont has a 52-week low of C$39.96 and a 52-week high of C$81.16. The stock has a market capitalization of C$68.98 billion, a PE ratio of -15.83, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. The company has a debt-to-equity ratio of 31.20, a quick ratio of 1.77 and a current ratio of 2.11.

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.