FY2024 EPS Estimates for Newmont Boosted by Zacks Research

Newmont Co. (TSE:NGT) – Equities researchers at Zacks Research upped their FY2024 earnings per share estimates for shares of Newmont in a research report issued on Tuesday, November 5th. Zacks Research analyst A. Barman now forecasts that the company will earn $4.24 per share for the year, up from their prior estimate of $4.02. The consensus estimate for Newmont’s current full-year earnings is $5.51 per share. Zacks Research also issued estimates for Newmont’s Q4 2024 earnings at $1.36 EPS, Q1 2025 earnings at $0.97 EPS, Q2 2025 earnings at $1.02 EPS, Q4 2025 earnings at $1.46 EPS, FY2025 earnings at $4.72 EPS, Q1 2026 earnings at $1.50 EPS, Q2 2026 earnings at $1.33 EPS and Q3 2026 earnings at $1.52 EPS.

Several other equities research analysts also recently issued reports on NGT. Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Scotiabank lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 25th. UBS Group lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Argus raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. Four analysts have rated the stock with a hold rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and an average price target of C$68.00.

Newmont Price Performance

Newmont has a 52 week low of C$39.96 and a 52 week high of C$81.16. The stock’s 50 day moving average price is C$71.72 and its two-hundred day moving average price is C$64.71. The firm has a market capitalization of C$72.01 billion, a PE ratio of -16.50, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. The company has a quick ratio of 1.77, a current ratio of 2.11 and a debt-to-equity ratio of 31.20.

Newmont (TSE:NGT) last released its quarterly earnings results on Wednesday, October 23rd. The company reported C$1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.07 by C$0.04. The business had revenue of C$6.28 billion for the quarter, compared to the consensus estimate of C$5.79 billion. Newmont had a negative net margin of 13.29% and a negative return on equity of 8.09%.

Newmont Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be paid a $0.338 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.35 annualized dividend and a yield of ∞. Newmont’s dividend payout ratio is currently -35.62%.

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.