FY2024 Earnings Estimate for Newmont Co. (NYSE:NEM) Issued By Raymond James

Newmont Co. (NYSE:NEM) – Research analysts at Raymond James lifted their FY2024 earnings per share estimates for shares of Newmont in a report issued on Friday, April 26th. Raymond James analyst B. Macarthur now forecasts that the basic materials company will earn $2.58 per share for the year, up from their previous estimate of $2.56. The consensus estimate for Newmont’s current full-year earnings is $2.16 per share. Raymond James also issued estimates for Newmont’s Q1 2025 earnings at $0.53 EPS, Q2 2025 earnings at $0.58 EPS, Q4 2025 earnings at $0.61 EPS and FY2025 earnings at $2.32 EPS.

Several other equities analysts also recently issued reports on the company. National Bank Financial reissued an “outperform overweight” rating on shares of Newmont in a research report on Monday, April 8th. Jefferies Financial Group assumed coverage on Newmont in a research report on Thursday, February 29th. They set a “buy” rating and a $38.00 price target on the stock. StockNews.com raised Newmont from a “sell” rating to a “hold” rating in a research report on Friday. TD Securities raised their target price on Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a research report on Friday. Finally, BMO Capital Markets dropped their target price on Newmont from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and an average price target of $51.75.

Newmont Stock Performance

Shares of NEM opened at $42.73 on Monday. Newmont has a 12 month low of $29.42 and a 12 month high of $50.18. The stock has a fifty day moving average price of $35.54 and a 200-day moving average price of $36.93. The company has a current ratio of 2.15, a quick ratio of 0.98 and a debt-to-equity ratio of 0.32. The firm has a market cap of $49.26 billion, a PE ratio of -16.00, a P/E/G ratio of 1.09 and a beta of 0.50.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.35 by $0.20. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same quarter in the prior year, the business posted $0.40 EPS. The business’s revenue for the quarter was up 50.2% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Hourglass Capital LLC increased its holdings in shares of Newmont by 28.9% during the 1st quarter. Hourglass Capital LLC now owns 288,193 shares of the basic materials company’s stock worth $10,329,000 after buying an additional 64,610 shares during the last quarter. Signature Wealth Management Partners LLC acquired a new stake in shares of Newmont during the 1st quarter worth approximately $267,000. K.J. Harrison & Partners Inc acquired a new stake in Newmont in the 1st quarter valued at approximately $284,000. Sage Rhino Capital LLC increased its holdings in Newmont by 77.4% in the 1st quarter. Sage Rhino Capital LLC now owns 16,931 shares of the basic materials company’s stock valued at $607,000 after purchasing an additional 7,386 shares during the last quarter. Finally, First Personal Financial Services increased its holdings in Newmont by 3.0% in the 1st quarter. First Personal Financial Services now owns 46,774 shares of the basic materials company’s stock valued at $1,676,000 after purchasing an additional 1,354 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Dividend Announcement

The firm 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date is Tuesday, June 4th. Newmont’s dividend payout ratio (DPR) is -37.45%.

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.