FY2024 Earnings Forecast for Newmont Issued By Raymond James

Newmont Co. (TSE:NGT) – Stock analysts at Raymond James cut their FY2024 earnings estimates for shares of Newmont in a research note issued to investors on Sunday, October 27th. Raymond James analyst B. Macarthur now expects that the company will earn $4.17 per share for the year, down from their prior forecast of $4.18. The consensus estimate for Newmont’s current full-year earnings is $5.51 per share. Raymond James also issued estimates for Newmont’s Q2 2025 earnings at $1.21 EPS, Q3 2025 earnings at $1.21 EPS, Q4 2025 earnings at $1.24 EPS and FY2025 earnings at $4.87 EPS.

A number of other equities analysts have also commented on NGT. UBS Group lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday. Argus raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. Finally, Scotiabank cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$68.00.

Newmont Price Performance

Shares of TSE:NGT opened at C$63.27 on Wednesday. The company’s fifty day moving average price is C$72.30 and its 200-day moving average price is C$64.36. The firm has a market capitalization of C$72.76 billion, a price-to-earnings ratio of -16.69, a PEG ratio of 1.43 and a beta of 0.51. Newmont has a one year low of C$39.96 and a one year high of C$81.16. The company has a debt-to-equity ratio of 31.20, a current ratio of 2.11 and a quick ratio of 1.77.

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

Newmont Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be paid a $0.338 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 2.14%. Newmont’s dividend payout ratio (DPR) is -35.62%.

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.