FY2024 Earnings Forecast for Newmont Issued By Raymond James

Newmont Co. (TSE:NGT) – Equities research analysts at Raymond James upped their FY2024 earnings estimates for shares of Newmont in a note issued to investors on Monday, January 27th. Raymond James analyst B. Macarthur now expects that the company will earn $4.19 per share for the year, up from their previous forecast of $4.08. The consensus estimate for Newmont’s current full-year earnings is $5.51 per share. Raymond James also issued estimates for Newmont’s Q1 2025 earnings at $1.15 EPS, Q3 2025 earnings at $1.07 EPS and FY2025 earnings at $4.39 EPS.

Other equities analysts also recently issued research reports about the company. UBS Group downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. The Goldman Sachs Group upgraded Newmont to a “strong-buy” rating in a research note on Monday, January 13th. Citigroup cut their price target on shares of Newmont from C$66.00 to C$45.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. Finally, CLSA upgraded shares of Newmont to a “hold” rating in a research report on Friday, November 29th. Five research analysts have rated the stock with a hold rating, one has given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$56.50.

Newmont Stock Up 4.1 %

Newmont stock opened at C$62.41 on Wednesday. Newmont has a fifty-two week low of C$39.96 and a fifty-two week high of C$81.16. The company has a debt-to-equity ratio of 31.20, a quick ratio of 1.77 and a current ratio of 2.11. The firm’s 50-day simple moving average is C$57.55 and its 200 day simple moving average is C$64.90. The stock has a market cap of C$71.77 billion, a PE ratio of -16.47, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51.

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.