What is Raymond James’ Estimate for Newmont FY2024 Earnings?

Newmont Co. (TSE:NGT) – Equities research analysts at Raymond James cut their FY2024 earnings per share (EPS) estimates for Newmont in a research report issued to clients and investors on Sunday, October 27th. Raymond James analyst B. Macarthur now forecasts that the company will post earnings per share of $4.17 for the year, down from their previous estimate 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.

Newmont (TSE:NGT) last released its 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 company had revenue of C$6.28 billion during the quarter, compared to analysts’ expectations of C$5.79 billion. Newmont had a negative net margin of 13.29% and a negative return on equity of 8.09%.

Several other equities analysts also recently issued reports on the company. Scotiabank downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 25th. Argus raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 29th. Finally, Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday. Three research analysts have rated the stock with a hold rating and three have given a strong buy rating to the company. According to MarketBeat, Newmont has an average rating of “Buy” and a consensus price target of C$68.00.

Newmont Trading Down 1.0 %

TSE NGT opened at C$66.53 on Wednesday. Newmont has a 12-month low of C$39.96 and a 12-month high of C$81.16. The company has a fifty day simple moving average of C$72.54 and a two-hundred day simple moving average of C$64.36. 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 stock has a market cap of C$76.51 billion, a P/E ratio of -17.55, a P/E/G ratio of 1.43 and a beta of 0.51.

Newmont Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be given a dividend of $0.338 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.35 dividend on an annualized basis and a yield of 2.03%. Newmont’s dividend payout ratio is presently -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.