Q1 2024 EPS Estimates for Newmont Co. (TSE:NGT) Boosted by Raymond James

Newmont Co. (TSE:NGT) – Investment analysts at Raymond James increased their Q1 2024 earnings estimates for shares of Newmont in a note issued to investors on Tuesday, April 16th. Raymond James analyst B. Macarthur now forecasts that the company will post earnings per share of $0.48 for the quarter, up from their previous estimate of $0.46. The consensus estimate for Newmont’s current full-year earnings is $3.48 per share. Raymond James also issued estimates for Newmont’s Q3 2024 earnings at $0.68 EPS and FY2024 earnings at $2.36 EPS.

A number of other equities analysts also recently issued reports on the stock. National Bankshares cut their price target on shares of Newmont from C$71.00 to C$69.00 and set an “outperform” rating for the company in a report on Friday. National Bank Financial reiterated an “outperform overweight” rating on shares of Newmont in a report on Monday, April 8th.

Newmont Stock Performance

Shares of NGT opened at C$53.69 on Friday. The company has a 50-day simple moving average of C$47.27 and a 200-day simple moving average of C$49.95. The company has a quick ratio of 1.77, a current ratio of 1.25 and a debt-to-equity ratio of 32.67. The company has a market capitalization of C$61.74 billion, a PE ratio of -13.06, a P/E/G ratio of 0.78 and a beta of 0.54. Newmont has a 52-week low of C$39.96 and a 52-week high of C$68.15.

Newmont (TSE:NGT) last released its earnings results on Thursday, February 22nd. The company reported C$0.68 EPS for the quarter, missing the consensus estimate of C$0.70 by C($0.02). Newmont had a negative return on equity of 10.23% and a negative net margin of 21.11%. The firm had revenue of C$5.39 billion during the quarter, compared to analyst estimates of C$4.37 billion.

Newmont Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 5th were issued a dividend of $0.336 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $1.34 annualized dividend and a yield of 2.50%. Newmont’s dividend payout ratio (DPR) is currently -33.09%.

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.