National Bank Financial Research Analysts Lower Earnings Estimates for Newmont Co. (TSE:NGT)

Newmont Co. (TSE:NGTGet Rating) – National Bank Financial dropped their FY2023 earnings estimates for Newmont in a report released on Tuesday, July 26th. National Bank Financial analyst M. Parkin now expects that the company will earn $3.46 per share for the year, down from their previous estimate of $4.29. National Bank Financial currently has a “Outperform Overweight” rating on the stock.

Separately, National Bankshares raised shares of Newmont from a “sector perform” rating to an “outperform” rating and lowered their price objective for the company from C$90.00 to C$79.00 in a research note on Wednesday.

Newmont Stock Performance

Shares of TSE:NGT opened at C$57.94 on Friday. The company has a market cap of C$45.99 billion and a price-to-earnings ratio of 47.49. The company has a 50-day moving average price of C$78.21 and a 200-day moving average price of C$85.93. The company has a current ratio of 2.82, a quick ratio of 1.93 and a debt-to-equity ratio of 28.58. Newmont has a 12 month low of C$56.55 and a 12 month high of C$108.98.

Newmont Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 22nd. Investors of record on Thursday, September 8th will be paid a $0.708 dividend. This is an increase from Newmont’s previous quarterly dividend of $0.69. This represents a $2.83 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend is Wednesday, September 7th. Newmont’s dividend payout ratio is presently 180.33%.

Newmont Company Profile

(Get Rating)

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, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.

Further Reading

Earnings History and Estimates for Newmont (TSE:NGT)

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