FY2024 Earnings Forecast for Newmont Issued By Raymond James

Newmont Co. (TSE:NGT) – Analysts at Raymond James cut their FY2024 earnings per share (EPS) estimates for Newmont in a research note issued on Monday, November 25th. Raymond James analyst B. Macarthur now forecasts that the company will earn $4.08 per share for the year, down from their previous forecast of $4.11. The consensus estimate for Newmont’s current full-year earnings is $5.51 per share. Raymond James also issued estimates for Newmont’s Q4 2024 earnings at $1.21 EPS, Q2 2025 earnings at $1.06 EPS, Q3 2025 earnings at $1.08 EPS, Q4 2025 earnings at $1.12 EPS and FY2025 earnings at $4.38 EPS.

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

Several other brokerages have also weighed in on NGT. UBS Group lowered Newmont from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Argus upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. Scotiabank downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 25th. Finally, Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. 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.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$68.00.

Newmont Price Performance

Shares of TSE NGT opened at C$58.88 on Tuesday. The stock has a fifty day simple moving average of C$68.54 and a two-hundred day simple moving average of C$65.10. Newmont has a 1-year low of C$39.96 and a 1-year high of C$81.16. The firm has a market cap of C$67.71 billion, a price-to-earnings ratio of -15.54, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.338 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 2.30%. Newmont’s dividend payout ratio (DPR) is currently -35.62%.

About Newmont

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.