National Bank Financial Comments on Newmont Co.’s FY2023 Earnings (TSE:NGT)

Newmont Co. (TSE:NGT) – Equities research analysts at National Bank Financial decreased their FY2023 earnings per share (EPS) estimates for Newmont in a note issued to investors on Monday, November 6th. National Bank Financial analyst M. Parkin now anticipates that the company will post earnings of $2.55 per share for the year, down from their previous forecast of $2.90. The consensus estimate for Newmont’s current full-year earnings is $4.81 per share. National Bank Financial also issued estimates for Newmont’s FY2024 earnings at $3.59 EPS.

NGT has been the subject of several other research reports. National Bankshares cut their price objective on Newmont from C$81.00 to C$75.00 and set an “outperform” rating for the company in a report on Tuesday. CIBC lowered Newmont from an “outperform” rating to a “neutral” rating and cut their price target for the company from C$54.00 to C$50.00 in a report on Friday, July 21st.

Newmont Stock Performance

Shares of NGT opened at C$46.86 on Thursday. The company has a debt-to-equity ratio of 31.60, a current ratio of 2.12 and a quick ratio of 1.77. Newmont has a one year low of C$46.86 and a one year high of C$76.08. The firm has a market capitalization of C$37.24 billion, a P/E ratio of -32.10, a PEG ratio of 0.78 and a beta of 0.43. The business has a fifty day moving average of C$52.42 and a 200 day moving average of C$55.59.

Newmont (TSE:NGT) last issued its quarterly earnings data on Thursday, October 26th. The company reported C$0.49 EPS for the quarter, missing the consensus estimate of C$0.58 by C($0.09). Newmont had a negative return on equity of 3.95% and a negative net margin of 7.35%. The firm had revenue of C$3.34 billion during the quarter, compared to the consensus estimate of C$4.35 billion.

Newmont Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Thursday, November 30th will be issued a dividend of $0.543 per share. This represents a $2.17 annualized dividend and a yield of 4.64%. The ex-dividend date of this dividend is Wednesday, November 29th. This is a positive change from Newmont’s previous quarterly dividend of $0.53. Newmont’s payout ratio is currently -151.37%.

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, and Ghana. As of December 31, 2022, it had proven and probable gold reserves of 96.1 million ounces and land position of 61,500 square kilometers.