Jefferies Financial Group Equities Analysts Cut Earnings Estimates for Newmont Co. (TSE:NGT)

Newmont Co. (TSE:NGT – Get Rating) – Research analysts at Jefferies Financial Group decreased their Q1 2023 earnings per share (EPS) estimates for Newmont in a note issued to investors on Tuesday, January 17th. Jefferies Financial Group analyst C. Lafemina now expects that the company will earn $0.88 per share for the quarter, down from their prior estimate of $0.89. Jefferies Financial Group also issued estimates for Newmont’s Q2 2023 earnings at $0.88 EPS, Q3 2023 earnings at $0.92 EPS, Q4 2023 earnings at $0.92 EPS, FY2023 earnings at $3.62 EPS, Q1 2024 earnings at $1.10 EPS, Q2 2024 earnings at $1.11 EPS, Q3 2024 earnings at $1.18 EPS, Q4 2024 earnings at $1.29 EPS, FY2024 earnings at $4.68 EPS and FY2025 earnings at $4.82 EPS.

Separately, National Bankshares lifted their price objective on Newmont from C$76.00 to C$86.00 and gave the company an “outperform” rating in a report on Friday, January 13th.

Newmont Stock Performance

TSE NGT opened at C$70.63 on Thursday. Newmont has a twelve month low of C$51.44 and a twelve month high of C$108.98. The company has a quick ratio of 1.77, a current ratio of 2.72 and a debt-to-equity ratio of 28.63. The stock has a market cap of C$56.06 billion and a P/E ratio of 43.33. The company’s 50-day simple moving average is C$64.98 and its 200 day simple moving average is C$61.68.

Newmont (TSE:NGT – Get Rating) last announced its quarterly earnings results on Tuesday, November 1st. The company reported C$0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.40 by C($0.05). The business had revenue of C$3.44 billion for the quarter, compared to analysts’ expectations of C$3.87 billion.

Newmont Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 29th. Shareholders of record on Thursday, December 8th were issued a dividend of $0.761 per share. The ex-dividend date of this dividend was Wednesday, December 7th. This is a boost from Newmont’s previous quarterly dividend of $0.71. This represents a $3.04 dividend on an annualized basis and a dividend yield of 4.31%. Newmont’s dividend payout ratio (DPR) is presently 134.97%.

About Newmont

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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.