Raymond James Issues Negative Forecast for Newmont Earnings

Newmont Co. (TSE:NGT) – Analysts at Raymond James lowered their Q4 2024 earnings per share estimates for Newmont in a research report issued to clients and investors on Sunday, October 27th. Raymond James analyst B. Macarthur now expects that the company will earn $1.28 per share for the quarter, down from their prior estimate of $1.31. 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 $1.20 EPS.

Other analysts also recently issued research reports about the stock. Argus raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. Scotiabank downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Friday. Finally, Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday. Three investment analysts have rated the stock with a hold rating and three have given a strong buy rating to the company. According to data from MarketBeat, Newmont currently has an average rating of “Buy” and a consensus target price of C$68.00.

Newmont Stock Down 0.2 %

Shares of NGT opened at C$67.21 on Tuesday. The firm has a fifty day moving average price of C$72.62 and a 200-day moving average price of C$64.26. The company has a current ratio of 2.11, a quick ratio of 1.77 and a debt-to-equity ratio of 31.20. The firm has a market capitalization of C$77.29 billion, a P/E ratio of -17.73, a P/E/G ratio of 1.43 and a beta of 0.51. Newmont has a 12-month low of C$39.96 and a 12-month high of C$81.16.

Newmont (TSE:NGT) last posted its quarterly earnings data 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. Newmont had a negative return on equity of 8.09% and a negative net margin of 13.29%. The company had revenue of C$6.28 billion during the quarter, compared to analysts’ expectations of C$5.79 billion.

Newmont Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be issued a $0.338 dividend. This represents a $1.35 annualized dividend and a yield of 2.01%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio 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.