Raymond James Analysts Raise Earnings Estimates for Newmont Co. (TSE:NGT)

Newmont Co. (TSE:NGT) – Equities research analysts at Raymond James upped their Q3 2024 earnings estimates for shares of Newmont in a report issued on Monday, September 23rd. Raymond James analyst B. Macarthur now forecasts that the company will post earnings of $1.20 per share for the quarter, up from their previous estimate of $0.99. The consensus estimate for Newmont’s current full-year earnings is $7.09 per share. Raymond James also issued estimates for Newmont’s Q4 2024 earnings at $1.31 EPS, FY2024 earnings at $4.23 EPS, Q1 2025 earnings at $1.24 EPS, Q2 2025 earnings at $1.29 EPS, Q3 2025 earnings at $1.32 EPS, Q4 2025 earnings at $1.32 EPS and FY2025 earnings at $5.17 EPS.

Other equities research analysts have also issued research reports about the stock. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. UBS Group raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Monday, June 17th. Scotiabank raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 19th. BNP Paribas upgraded shares of Newmont to a “strong-buy” rating in a research note on Friday, June 21st. Finally, Argus upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. One research analyst has rated the stock with a hold rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Newmont presently has a consensus rating of “Strong Buy” and a consensus target price of C$68.00.

Newmont Stock Performance

NGT stock opened at C$74.55 on Thursday. The stock’s fifty day moving average is C$68.82 and its two-hundred day moving average is C$59.96. The stock has a market capitalization of C$85.73 billion, a price-to-earnings ratio of -19.93, a PEG ratio of 1.24 and a beta of 0.51. The company has a debt-to-equity ratio of 31.20, a quick ratio of 1.77 and a current ratio of 2.11. Newmont has a 1 year low of C$39.96 and a 1 year high of C$75.64.

Newmont (TSE:NGT) last announced its quarterly earnings results on Wednesday, July 24th. The company reported C$0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.72 by C$0.27. The business had revenue of C$6.02 billion for the quarter, compared to the consensus estimate of C$4.79 billion. Newmont had a negative return on equity of 8.09% and a negative net margin of 13.29%.

Newmont Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 5th will be given a dividend of $0.342 per share. This represents a $1.37 annualized dividend and a yield of 1.84%. This is a boost from Newmont’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Thursday, September 5th. Newmont’s payout ratio is presently -36.10%.

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.