FY2024 EPS Estimates for Newmont Co. (TSE:NGT) Lifted by Analyst

Newmont Co. (TSE:NGT) – Research analysts at National Bank Financial boosted their FY2024 EPS estimates for shares of Newmont in a research note issued on Tuesday, April 30th. National Bank Financial analyst M. Parkin now anticipates that the company will post earnings per share of $3.33 for the year, up from their prior estimate of $2.22. National Bank Financial currently has a “Sector Perform Overweight” rating on the stock. The consensus estimate for Newmont’s current full-year earnings is $3.48 per share. National Bank Financial also issued estimates for Newmont’s FY2025 earnings at $3.85 EPS and FY2026 earnings at $3.21 EPS.

Separately, National Bankshares downgraded shares of Newmont from an “outperform” rating to a “sector perform” rating and cut their price target for the company from C$69.00 to C$68.00 in a report on Wednesday.

Newmont Stock Performance

NGT stock opened at C$55.64 on Friday. The company has a 50-day simple moving average of C$49.29 and a 200 day simple moving average of C$50.20. 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 company has a market capitalization of C$63.99 billion, a P/E ratio of -13.54, a PEG ratio of 0.78 and a beta of 0.54. Newmont has a fifty-two week low of C$39.96 and a fifty-two week high of C$68.15.

Newmont (TSE:NGT) last posted its earnings results on Thursday, February 22nd. The company reported C$0.68 EPS for the quarter, missing the consensus estimate 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 firm had revenue of C$5.39 billion during the quarter, compared to the consensus estimate of C$4.37 billion.

Newmont Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $0.338 per share. This represents a $1.35 annualized dividend and a dividend yield of 2.43%. This is an increase from Newmont’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont’s dividend payout ratio is currently -33.09%.

Newmont Company Profile

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.