Newmont (TSE:NGT) Downgraded by National Bank Financial

National Bank Financial downgraded shares of Newmont (TSE:NGT) from an outperform overweight rating to a sector perform overweight rating in a report published on Tuesday, Zacks.com reports. National Bank Financial also issued estimates for Newmont’s FY2024 earnings at $3.33 EPS, FY2025 earnings at $3.85 EPS and FY2026 earnings at $3.21 EPS.

Separately, National Bankshares lowered Newmont from an outperform rating to a sector perform rating and cut their price target for the stock from C$69.00 to C$68.00 in a research report on Wednesday.

Newmont Trading Down 1.0 %

Shares of Newmont stock opened at C$55.64 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 1.77 and a debt-to-equity ratio of 32.67. The company has a fifty day simple moving average of C$49.29 and a 200-day simple moving average of C$50.20. The stock has a market cap of C$63.99 billion, a price-to-earnings ratio of -13.54, a PEG ratio of 0.78 and a beta of 0.54. Newmont has a 12-month low of C$39.96 and a 12-month high of C$68.15.

Newmont (TSE:NGT) last announced its quarterly earnings results on Thursday, February 22nd. The company reported C$0.68 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.70 by C($0.02). The company had revenue of C$5.39 billion during the quarter, compared to analysts’ expectations of C$4.37 billion. Newmont had a negative net margin of 21.11% and a negative return on equity of 10.23%. On average, equities analysts forecast that Newmont will post 3.4813847 EPS for the current fiscal year.

Newmont Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th will be paid a $0.338 dividend. The ex-dividend date is Tuesday, June 4th. This is a positive change from Newmont’s previous quarterly dividend of $0.34. This represents a $1.35 dividend on an annualized basis and a yield of 2.43%. Newmont’s 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.