Newmont Co. to Post Q1 2024 Earnings of $0.48 Per Share, Raymond James Forecasts (TSE:NGT)

Newmont Co. (TSE:NGT) – Stock analysts at Raymond James boosted their Q1 2024 earnings per share estimates for shares of Newmont in a research note issued to investors on Tuesday, April 16th. Raymond James analyst B. Macarthur now forecasts that the company will post earnings per share of $0.48 for the quarter, up from their prior forecast of $0.46. 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 $0.68 EPS and FY2024 earnings at $2.36 EPS.

Several other research analysts also recently commented on the company. National Bankshares cut their target price on Newmont from C$71.00 to C$69.00 and set an “outperform” rating on the stock in a report on Friday. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Newmont in a research note on Monday, April 8th.

Newmont Trading Up 1.2 %

Shares of NGT stock opened at C$53.69 on Friday. The firm has a market capitalization of C$61.74 billion, a P/E ratio of -13.06, a P/E/G ratio of 0.78 and a beta of 0.54. Newmont has a twelve month low of C$39.96 and a twelve month high of C$68.15. The company has a quick ratio of 1.77, a current ratio of 1.25 and a debt-to-equity ratio of 32.67. The stock’s fifty day simple moving average is C$47.27 and its 200 day simple moving average is C$49.95.

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). Newmont had a negative return on equity of 10.23% and a negative net margin of 21.11%. The company had revenue of C$5.39 billion for the quarter, compared to the consensus estimate of C$4.37 billion.

Newmont Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 5th were issued a $0.336 dividend. This represents a $1.34 annualized dividend and a dividend yield of 2.50%. The ex-dividend date was Monday, March 4th. Newmont’s dividend payout ratio is presently -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.