Q2 2024 Earnings Estimate for Newmont Co. (TSE:NGT) Issued By Raymond James

Newmont Co. (TSE:NGT) – Stock analysts at Raymond James upped their Q2 2024 earnings per share estimates for shares of Newmont in a note issued to investors on Tuesday, April 23rd. Raymond James analyst B. Macarthur now expects that the company will post earnings per share of $0.84 for the quarter, up from their prior estimate of $0.48. The consensus estimate for Newmont’s current full-year earnings is $3.48 per share. Raymond James also issued estimates for Newmont’s Q3 2024 earnings at $1.07 EPS, Q4 2024 earnings at $1.12 EPS and FY2024 earnings at $3.51 EPS.

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

Several other analysts have also issued reports on NGT. National Bankshares cut their price target on shares of Newmont from C$71.00 to C$69.00 and set an “outperform” rating for the company in a research report on Friday, April 19th. National Bank Financial restated an “outperform overweight” rating on shares of Newmont in a report on Monday, April 8th.

Newmont Price Performance

NGT stock opened at C$58.38 on Friday. The firm has a market cap of C$67.14 billion, a P/E ratio of -14.20, a P/E/G ratio of 0.78 and a beta of 0.54. The firm’s fifty day moving average is C$48.30 and its 200 day moving average is C$50.11. Newmont has a 52 week low of C$39.96 and a 52 week high of C$68.15. The company has a debt-to-equity ratio of 32.67, a quick ratio of 1.77 and a current ratio of 1.25.

Newmont Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th will be issued a $0.338 dividend. This represents a $1.35 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Monday, June 3rd. This is a positive change from Newmont’s previous quarterly dividend of $0.34. Newmont’s dividend payout ratio (DPR) is -33.09%.

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.