Brokers Set Expectations for Newmont Co.’s Q3 2024 Earnings (TSE:NGT)

Newmont Co. (TSE:NGT) – Equities research analysts at Raymond James boosted their Q3 2024 earnings per share estimates for Newmont in a research report issued on Monday, September 23rd. Raymond James analyst B. Macarthur now anticipates that the company will post earnings of $1.20 per share for the quarter, up from their prior forecast 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.

A number of other research firms also recently weighed in on NGT. Scotiabank raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 19th. Argus upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 29th. BNP Paribas upgraded shares of Newmont to a “strong-buy” rating in a research note on Friday, June 21st. National Bankshares upped their price objective on shares of Newmont from C$67.00 to C$68.00 and gave the stock a “sector perform” rating in a report on Monday, June 10th. Finally, UBS Group upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Monday, June 17th. One analyst has rated the stock with a hold rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Strong Buy” and a consensus price target of C$68.00.

Newmont Trading Down 2.6 %

NGT opened at C$72.89 on Thursday. The company has a fifty day moving average price of C$69.35 and a two-hundred day moving average price of C$60.35. Newmont has a 1-year low of C$39.96 and a 1-year high of C$75.64. The company has a market cap of C$83.82 billion, a P/E ratio of -19.49, a price-to-earnings-growth ratio of 1.24 and a beta of 0.51. The company has a current ratio of 2.11, a quick ratio of 1.77 and a debt-to-equity ratio of 31.20.

Newmont (TSE:NGT) last released 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. Newmont had a negative net margin of 13.29% and a negative return on equity of 8.09%. The business had revenue of C$6.02 billion for the quarter, compared to analyst estimates of C$4.79 billion.

Newmont Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 5th will be issued a dividend of $0.342 per share. The ex-dividend date of this dividend is Thursday, September 5th. This is an increase from Newmont’s previous quarterly dividend of $0.34. This represents a $1.37 annualized dividend and a yield of 1.88%. Newmont’s dividend payout ratio is -36.10%.

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.