Raymond James Analysts Raise Earnings Estimates for Newmont Co. (TSE:NGT)

Newmont Co. (TSE:NGT) – Research analysts at Raymond James upped their Q3 2024 earnings per share estimates for shares of Newmont in a research note issued on Monday, September 23rd. Raymond James analyst B. Macarthur now forecasts that the company will earn $1.20 per share for the quarter, up from their previous estimate of $0.99. The consensus estimate for Newmont’s current full-year earnings is $7.09 per share. Raymond James also issued estimates for Newmont’s Q4 2024 earnings at $1.31 EPS, FY2024 earnings at $4.23 EPS, Q1 2025 earnings at $1.24 EPS, Q2 2025 earnings at $1.29 EPS, Q3 2025 earnings at $1.32 EPS, Q4 2025 earnings at $1.32 EPS and FY2025 earnings at $5.17 EPS.

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

NGT has been the subject of several other research reports. UBS Group raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Monday, June 17th. BNP Paribas upgraded shares of Newmont to a “strong-buy” rating in a research note on Friday, June 21st. Argus upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Finally, Scotiabank raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 19th. One analyst has rated the stock with a hold rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Strong Buy” and a consensus target price of C$68.00.

Newmont Stock Performance

NGT opened at C$72.89 on Thursday. The company has a quick ratio of 1.77, a current ratio of 2.11 and a debt-to-equity ratio of 31.20. Newmont has a 12-month low of C$39.96 and a 12-month high of C$75.64. The business has a 50 day moving average of C$69.35 and a 200-day moving average of C$60.35. The stock has a market cap of C$83.82 billion, a price-to-earnings ratio of -19.49, a PEG ratio of 1.24 and a beta of 0.51.

Newmont Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be paid a $0.342 dividend. This represents a $1.37 dividend on an annualized basis and a yield of 1.88%. This is a boost from Newmont’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Thursday, September 5th. Newmont’s dividend payout ratio (DPR) is -36.10%.

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.