FY2024 Earnings Forecast for Newmont Issued By Raymond James

Newmont Co. (TSE:NGT) – Equities research analysts at Raymond James reduced their FY2024 earnings per share estimates for Newmont in a report issued on Sunday, October 27th. Raymond James analyst B. Macarthur now expects 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 announced its quarterly earnings data on Wednesday, October 23rd. The company reported C$1.11 earnings per share for the quarter, beating 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 analyst estimates of C$5.79 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 reports. Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday. Argus raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. Finally, Scotiabank downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 25th. Three analysts have rated the stock with a hold rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Newmont has a consensus rating of “Buy” and an average target price of C$68.00.

Newmont Stock Down 1.0 %

Shares of TSE NGT opened at C$66.53 on Wednesday. The stock has a 50 day moving average price of C$72.54 and a 200 day moving average price of C$64.36. The firm has a market capitalization of C$76.51 billion, a price-to-earnings ratio of -17.55, a PEG ratio of 1.43 and a beta of 0.51. Newmont has a 52-week low of C$39.96 and a 52-week high of C$81.16. The company has a debt-to-equity ratio of 31.20, a quick ratio of 1.77 and a current ratio of 2.11.

Newmont Cuts Dividend

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