FY2024 Earnings Estimate for Newmont Issued By Scotiabank

Newmont Co. (TSE:NGT) – Stock analysts at Scotiabank boosted their FY2024 earnings per share estimates for Newmont in a note issued to investors on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now expects that the company will earn $4.70 per share for the year, up from their previous estimate of $4.00. Scotiabank has a “Hold” rating on the stock. The consensus estimate for Newmont’s current full-year earnings is $5.51 per share. Scotiabank also issued estimates for Newmont’s FY2025 earnings at $4.85 EPS and FY2026 earnings at $4.59 EPS.

Newmont (TSE:NGT) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported C$1.11 EPS for the quarter, beating analysts’ consensus estimates 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 a number of other research reports. Citigroup reduced their target price on Newmont from C$66.00 to C$45.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. UBS Group downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, CLSA raised shares of Newmont to a “hold” rating in a research note on Friday, November 29th. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$56.50.

Newmont Stock Up 2.3 %

Shares of TSE NGT opened at C$57.74 on Monday. The firm’s 50-day moving average is C$57.62 and its two-hundred day moving average is C$64.85. The company has a market capitalization of C$66.40 billion, a PE ratio of -15.23, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. Newmont has a 12-month low of C$39.96 and a 12-month 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 Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, November 27th were paid a $0.338 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $1.35 annualized dividend and a yield of 2.34%. Newmont’s payout ratio is currently -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.