FY2024 Earnings Forecast for Newmont Issued By Raymond James

Newmont Co. (TSE:NGT) – Analysts at Raymond James upped their FY2024 earnings per share (EPS) estimates for shares of Newmont in a research note issued on Monday, January 27th. Raymond James analyst B. Macarthur now expects that the company will post earnings of $4.19 per share for the year, up from their prior forecast of $4.08. The consensus estimate for Newmont’s current full-year earnings is $5.51 per share. Raymond James also issued estimates for Newmont’s Q1 2025 earnings at $1.15 EPS, Q3 2025 earnings at $1.07 EPS and FY2025 earnings at $4.39 EPS.

A number of other equities research analysts have also recently weighed in on NGT. Scotiabank cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 25th. UBS Group lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Citigroup decreased their price target on shares of Newmont from C$66.00 to C$45.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. CLSA raised Newmont to a “hold” rating in a research report on Friday, November 29th. Finally, Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Five analysts have rated the stock with a hold rating, one has given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$56.50.

Newmont Stock Up 0.8 %

NGT stock opened at C$59.98 on Wednesday. Newmont has a twelve month low of C$39.96 and a twelve month high of C$81.16. The stock has a market cap of C$68.98 billion, a P/E ratio of -15.83, a PEG ratio of 1.43 and a beta of 0.51. The company has a current ratio of 2.11, a quick ratio of 1.77 and a debt-to-equity ratio of 31.20. The company’s 50 day moving average is C$57.54 and its two-hundred day moving average is C$64.93.

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.