Zacks Research Analysts Raise Earnings Estimates for Newmont

Newmont Co. (TSE:NGT) – Investment analysts at Zacks Research raised their FY2024 EPS estimates for shares of Newmont in a research report issued to clients and investors 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 forecast 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.

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

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

Newmont Price Performance

Newmont has a fifty-two week low of C$39.96 and a fifty-two week high of C$81.16. The firm has a market cap of C$72.01 billion, a PE ratio of -16.50, a P/E/G ratio of 1.43 and a beta of 0.51. The stock has a fifty day moving average price of C$71.72 and a 200 day moving average price of C$64.71. The company has a current ratio of 2.11, a quick ratio of 1.77 and a debt-to-equity ratio of 31.20.

Newmont Cuts Dividend

The firm also recently declared 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. This represents a $1.35 dividend on an annualized basis and a yield of ∞. The ex-dividend date is Wednesday, November 27th. Newmont’s payout ratio is -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.