Brokers Set Expectations for Newmont Co.’s FY2024 Earnings (TSE:NGT)

Newmont Co. (TSE:NGT) – Analysts at Raymond James upped their FY2024 earnings per share (EPS) estimates for Newmont in a research note issued to investors on Friday, April 26th. Raymond James analyst B. Macarthur now expects that the company will post earnings of $3.54 per share for the year, up from their previous forecast of $3.51. The consensus estimate for Newmont’s current full-year earnings is $3.48 per share. Raymond James also issued estimates for Newmont’s Q1 2025 earnings at $0.73 EPS, Q2 2025 earnings at $0.80 EPS, Q4 2025 earnings at $0.84 EPS and FY2025 earnings at $3.18 EPS.

Other research analysts have also recently issued research reports about the company. National Bankshares cut their price objective on Newmont from C$71.00 to C$69.00 and set an “outperform” rating on the stock in a research report on Friday, April 19th. National Bank Financial reissued an “outperform overweight” rating on shares of Newmont in a research report on Monday, April 8th.

Newmont Stock Down 1.5 %

Shares of TSE:NGT opened at C$58.38 on Monday. The business’s 50 day moving average is C$48.30 and its 200 day moving average is C$50.07. The company has a quick ratio of 1.77, a current ratio of 1.25 and a debt-to-equity ratio of 32.67. Newmont has a 12-month low of C$39.96 and a 12-month high of C$68.15. The stock has a market cap 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.

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 company had revenue of C$5.39 billion for the quarter, compared to analysts’ expectations of C$4.37 billion. Newmont had a negative net margin of 21.11% and a negative return on equity of 10.23%.

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 Tuesday, June 4th. This is a positive change from Newmont’s previous quarterly dividend of $0.34. This represents a $1.35 annualized dividend and a dividend yield of 2.32%. Newmont’s payout ratio is presently -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.