Q1 2024 EPS Estimates for Newmont Co. Raised by Raymond James (TSE:NGT)

Newmont Co. (TSE:NGT) – Research analysts at Raymond James lifted their Q1 2024 EPS estimates for shares of Newmont in a research note issued on Tuesday, April 16th. Raymond James analyst B. Macarthur now expects that the company will post earnings of $0.48 per share for the quarter, up from their prior estimate of $0.46. 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 $0.68 EPS and FY2024 earnings at $2.36 EPS.

Newmont (TSE:NGT) last released its 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 firm had revenue of C$5.39 billion for the quarter, compared to analysts’ expectations of C$4.37 billion.

A number of other brokerages also recently issued reports on NGT. National Bankshares reduced their price target on shares of Newmont from C$65.00 to C$64.00 and set an “outperform” rating on the stock in a report on Tuesday, February 6th. National Bank Financial reiterated an “outperform overweight” rating on shares of Newmont in a report on Monday, April 8th.

Newmont Stock Performance

Shares of TSE NGT opened at C$53.06 on Friday. The company has a debt-to-equity ratio of 32.67, a quick ratio of 1.77 and a current ratio of 1.25. The company has a market cap of C$61.02 billion, a P/E ratio of -12.91, a P/E/G ratio of 0.78 and a beta of 0.54. The firm’s fifty day moving average is C$47.08 and its two-hundred day moving average is C$49.91. Newmont has a 52-week low of C$39.96 and a 52-week high of C$68.15.

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 issued a $0.336 dividend. The ex-dividend date was Monday, March 4th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.53%. Newmont’s dividend payout ratio (DPR) is presently -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.