Research Analysts Issue Forecasts for Newmont Co.’s Q3 2024 Earnings (TSE:NGT)

Newmont Co. (TSE:NGT) – Research analysts at Raymond James reduced their Q3 2024 earnings per share (EPS) estimates for Newmont in a report issued on Tuesday, October 8th. Raymond James analyst B. Macarthur now anticipates that the company will post earnings of $1.12 per share for the quarter, down from their prior forecast 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.

Newmont (TSE:NGT) last released its quarterly earnings results on Wednesday, July 24th. The company reported C$0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.72 by C$0.27. The company had revenue of C$6.02 billion during the quarter, compared to the consensus estimate of C$4.79 billion. Newmont had a negative return on equity of 8.09% and a negative net margin of 13.29%.

Several other analysts also recently issued reports on NGT. Scotiabank upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 19th. UBS Group raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 17th. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Argus raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 29th. Finally, BNP Paribas raised Newmont to a “strong-buy” rating in a report on Friday, June 21st. One research analyst has rated the stock with a hold rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Strong Buy” and an average price target of C$68.00.

Newmont Stock Performance

NGT opened at C$73.42 on Friday. The company has a market cap of C$84.43 billion, a PE ratio of -19.74, a price-to-earnings-growth ratio of 1.24 and a beta of 0.51. The stock has a 50-day moving average of C$70.49 and a 200-day moving average of C$61.92. Newmont has a 52-week low of C$39.96 and a 52-week high of C$75.64. 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 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 5th were issued a $0.342 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This is a boost from Newmont’s previous quarterly dividend of $0.34. This represents a $1.37 dividend on an annualized basis and a dividend yield of 1.86%. Newmont’s dividend payout ratio 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.