Equities Analysts Set Expectations for Newmont Co.’s Q2 2024 Earnings (TSE:NGT)

Newmont Co. (TSE:NGT) – Equities researchers at Raymond James upped their Q2 2024 earnings estimates for Newmont in a report issued on Tuesday, April 23rd. Raymond James analyst B. Macarthur now forecasts that the company will post earnings per share of $0.84 for the quarter, up from their prior forecast of $0.48. The consensus estimate for Newmont’s current full-year earnings is $3.48 per share. Raymond James also issued estimates for Newmont’s Q3 2024 earnings at $1.07 EPS, Q4 2024 earnings at $1.12 EPS and FY2024 earnings at $3.51 EPS.

Newmont (TSE:NGT) last posted its quarterly earnings data on Thursday, February 22nd. The company reported C$0.68 EPS for the quarter, missing analysts’ consensus estimates of C$0.70 by C($0.02). The company had revenue of C$5.39 billion for the quarter, compared to analyst estimates of C$4.37 billion. Newmont had a negative net margin of 21.11% and a negative return on equity of 10.23%.

A number of other brokerages have also recently weighed in on NGT. National Bank Financial restated an “outperform overweight” rating on shares of Newmont in a report on Monday, April 8th. National Bankshares reduced their target price on shares of Newmont from C$71.00 to C$69.00 and set an “outperform” rating for the company in a report on Friday, April 19th.

Newmont Trading Up 12.1 %

Shares of TSE:NGT opened at C$59.26 on Friday. The stock has a market capitalization of C$68.15 billion, a price-to-earnings ratio of -14.42, a PEG ratio of 0.78 and a beta of 0.54. Newmont has a 1-year low of C$39.96 and a 1-year high of C$68.15. The company has a debt-to-equity ratio of 32.67, a quick ratio of 1.77 and a current ratio of 1.25. The company has a 50 day moving average price of C$48.04 and a 200 day moving average price of C$50.06.

Newmont Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be paid a $0.338 dividend. This is a positive change from Newmont’s previous quarterly dividend of $0.34. The ex-dividend date is Monday, June 3rd. This represents a $1.35 dividend on an annualized basis and a yield of 2.28%. Newmont’s dividend payout ratio (DPR) is currently -33.09%.

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.