National Bank Financial Weighs in on Newmont FY2024 Earnings

Newmont Co. (TSE:NGT) – Equities research analysts at National Bank Financial increased their FY2024 earnings per share (EPS) estimates for shares of Newmont in a research note issued to investors on Thursday, October 24th. National Bank Financial analyst M. Parkin now anticipates that the company will post earnings per share of $4.54 for the year, up from their prior forecast of $4.50. The consensus estimate for Newmont’s current full-year earnings is $5.51 per share. National Bank Financial also issued estimates for Newmont’s FY2025 earnings at $6.24 EPS.

Newmont (TSE:NGT) last issued its earnings results on Wednesday, October 23rd. The company reported C$1.11 earnings per share for the quarter, beating the consensus estimate of C$1.07 by C$0.04. Newmont had a negative net margin of 13.29% and a negative return on equity of 8.09%. The firm had revenue of C$6.28 billion for the quarter, compared to analysts’ expectations of C$5.79 billion.

NGT has been the topic of several other research reports. Argus upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Finally, Scotiabank cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, Newmont currently has an average rating of “Buy” and an average target price of C$68.00.

Newmont Price Performance

Shares of NGT opened at C$67.21 on Monday. The firm has a market capitalization of C$77.29 billion, a price-to-earnings ratio of -17.73, a PEG ratio of 1.43 and a beta of 0.51. The firm’s fifty day simple moving average is C$72.62 and its 200-day simple moving average is C$64.26. Newmont has a twelve month low of C$39.96 and a twelve month high of C$81.16. The company has a current ratio of 2.11, a quick ratio of 1.77 and a debt-to-equity ratio of 31.20.

Newmont Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.338 per share. This represents a $1.35 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s dividend payout ratio (DPR) is currently -35.62%.

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.