Raymond James Research Analysts Lift Earnings Estimates for Newmont Co. (TSE:NGT)

Newmont Co. (TSE:NGT) – Raymond James boosted their FY2024 earnings estimates for shares of Newmont in a report released on Friday, April 26th. Raymond James analyst B. Macarthur now expects that the company will post earnings per share of $3.54 for the year, up from their prior estimate of $3.51. The consensus estimate for Newmont’s current full-year earnings is $3.48 per share. Raymond James also issued estimates for Newmont’s Q1 2025 earnings at $0.73 EPS, Q2 2025 earnings at $0.80 EPS, Q4 2025 earnings at $0.84 EPS and FY2025 earnings at $3.18 EPS.

Newmont (TSE:NGT) last issued its quarterly earnings results on Thursday, February 22nd. The company reported C$0.68 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of C$5.39 billion for the quarter, compared to analysts’ expectations of C$4.37 billion.

Several other equities analysts also recently commented on the stock. National Bank Financial reissued an “outperform overweight” rating on shares of Newmont in a research report on Monday, April 8th. National Bankshares lowered their price target on Newmont from C$71.00 to C$69.00 and set an “outperform” rating on the stock in a research report on Friday, April 19th.

Newmont Stock Down 3.1 %

Shares of Newmont stock opened at C$55.97 on Monday. The stock has a 50-day simple moving average of C$48.78 and a 200-day simple moving average of C$50.12. Newmont has a 52-week low of C$39.96 and a 52-week high of C$68.15. The firm has a market cap of C$64.37 billion, a price-to-earnings ratio of -13.62, a P/E/G ratio of 0.78 and a beta of 0.54. The company has a debt-to-equity ratio of 32.67, a current ratio of 1.25 and a quick ratio of 1.77.

Newmont Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $0.338 per share. This represents a $1.35 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Tuesday, June 4th. This is a positive change from Newmont’s previous quarterly dividend of $0.34. Newmont’s dividend payout ratio (DPR) is presently -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.