Newmont Co. (TSE:NGT – Free Report) – Raymond James lowered their Q3 2024 earnings estimates for Newmont in a note issued to investors on Tuesday, October 8th. Raymond James analyst B. Macarthur now forecasts that the company will earn $1.12 per share for the quarter, down from their prior estimate of $1.20. The consensus estimate for Newmont’s current full-year earnings is $7.24 per share. Raymond James also issued estimates for Newmont’s FY2024 earnings at $4.16 EPS, Q1 2025 earnings at $1.21 EPS, Q2 2025 earnings at $1.25 EPS, Q3 2025 earnings at $1.26 EPS, Q4 2025 earnings at $1.29 EPS and FY2025 earnings at $5.02 EPS.
Other equities research analysts have also issued reports about the company. UBS Group raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 17th. Scotiabank upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Monday, August 19th. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. BNP Paribas upgraded shares of Newmont to a “strong-buy” rating in a report on Friday, June 21st. Finally, Argus upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. One analyst has rated the stock with a hold rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Strong Buy” and a consensus target price of C$68.00.
Newmont Stock Up 1.8 %
Shares of TSE NGT opened at C$74.74 on Friday. Newmont has a 52-week low of C$39.96 and a 52-week high of C$75.64. The firm has a market capitalization of C$85.95 billion, a price-to-earnings ratio of -19.74, a PEG ratio of 1.24 and a beta of 0.51. The stock has a 50 day moving average price of C$70.58 and a 200 day moving average price of C$62.00. 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 (TSE:NGT – Get Free Report) last issued its earnings results on Wednesday, July 24th. The company reported C$0.99 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 13.29% and a negative return on equity of 8.09%.
Newmont Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 5th were given a dividend of $0.342 per share. The ex-dividend date was Thursday, September 5th. This represents a $1.37 dividend on an annualized basis and a yield of 1.83%. This is an increase from Newmont’s previous quarterly dividend of $0.34. Newmont’s dividend payout ratio (DPR) is presently -36.29%.
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.
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