Raymond James Comments on Newmont Co.’s Q2 2024 Earnings (TSE:NGT)

Newmont Co. (TSE:NGT) – Stock analysts at Raymond James raised their Q2 2024 EPS estimates for shares of Newmont in a report issued on Tuesday, April 23rd. Raymond James analyst B. Macarthur now forecasts that the company will earn $0.84 per share for the quarter, up from their previous estimate of $0.48. 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 $1.07 EPS, Q4 2024 earnings at $1.12 EPS and FY2024 earnings at $3.51 EPS.

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

Several other research firms have also recently weighed in on NGT. National Bankshares lowered their target price on Newmont from C$71.00 to C$69.00 and set an “outperform” rating on the stock in a research note on Friday, April 19th. National Bank Financial restated an “outperform overweight” rating on shares of Newmont in a report on Monday, April 8th.

Newmont Stock Down 1.5 %

TSE:NGT opened at C$58.38 on Friday. The business’s fifty day moving average price is C$48.30 and its 200 day moving average price is C$50.11. The firm has a market capitalization of C$67.14 billion, a price-to-earnings ratio of -14.20, a PEG ratio of 0.78 and a beta of 0.54. The company has a current ratio of 1.25, a quick ratio of 1.77 and a debt-to-equity ratio of 32.67. Newmont has a 1-year low of C$39.96 and a 1-year high of C$68.15.

Newmont Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th will be paid a $0.338 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.35 dividend on an annualized basis and a yield of 2.32%. This is an increase from Newmont’s previous quarterly dividend of $0.34. Newmont’s payout ratio is -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.