National Bank Financial Comments on Newmont Q3 Earnings

Newmont Co. (TSE:NGT) – Investment analysts at National Bank Financial issued their Q3 2024 EPS estimates for shares of Newmont in a research note issued on Tuesday, October 22nd. National Bank Financial analyst M. Parkin expects that the company will post earnings of $1.20 per share for the quarter. The consensus estimate for Newmont’s current full-year earnings is $5.51 per share.

A number of other research analysts have also recently weighed in on NGT. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Argus upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. Finally, Scotiabank upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 19th. One analyst has rated the stock with a hold rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Strong Buy” and an average price target of C$68.00.

Newmont Stock Down 14.7 %

NGT opened at C$68.19 on Thursday. The company has a debt-to-equity ratio of 31.20, a quick ratio of 1.77 and a current ratio of 2.11. Newmont has a fifty-two week low of C$39.96 and a fifty-two week high of C$81.16. The firm’s fifty day moving average is C$72.68 and its 200 day moving average is C$63.90. The stock has a market cap of C$78.42 billion, a price-to-earnings ratio of -17.98, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51.

Newmont (TSE:NGT) last released its earnings results on Wednesday, July 24th. The company reported C$0.99 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.72 by C$0.27. Newmont had a negative net margin of 13.29% and a negative return on equity of 8.09%. The company had revenue of C$6.02 billion for the quarter, compared to analysts’ expectations of C$4.79 billion.

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.