Newmont Co. (TSE:NGT) Expected to Post Q2 2024 Earnings of $0.48 Per Share

Newmont Co. (TSE:NGT) – Raymond James lowered their Q2 2024 EPS estimates for Newmont in a research report issued on Tuesday, April 16th. Raymond James analyst B. Macarthur now anticipates that the company will earn $0.48 per share for the quarter, down from their previous forecast of $0.50. The consensus estimate for Newmont’s current full-year earnings is $3.48 per share. Raymond James also issued estimates for Newmont’s Q4 2024 earnings at $0.72 EPS.

Other equities analysts also recently issued research reports about the stock. National Bankshares cut their price target on shares of Newmont from C$71.00 to C$69.00 and set an “outperform” rating on the stock in a report on Friday. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Newmont in a research note on Monday, April 8th.

Newmont Stock Performance

NGT opened at C$53.69 on Thursday. Newmont has a 52-week low of C$39.96 and a 52-week high of C$68.15. The company has a quick ratio of 1.77, a current ratio of 1.25 and a debt-to-equity ratio of 32.67. The company has a market cap of C$61.74 billion, a P/E ratio of -13.06, a price-to-earnings-growth ratio of 0.78 and a beta of 0.54. The firm’s 50-day moving average price is C$47.27 and its 200-day moving average price is C$49.95.

Newmont (TSE:NGT) last posted its quarterly earnings data on Thursday, February 22nd. The company reported C$0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.70 by C($0.02). Newmont had a negative net margin of 21.11% and a negative return on equity of 10.23%. The company had revenue of C$5.39 billion for the quarter, compared to analyst estimates of C$4.37 billion.

Newmont Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 5th were given a dividend of $0.336 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.50%. Newmont’s dividend payout ratio (DPR) is -33.09%.

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.