Equities Analysts Set Expectations for Newmont Co.’s Q2 2024 Earnings (TSE:NGT)

Newmont Co. (TSE:NGT) – Investment analysts at Raymond James increased their Q2 2024 earnings per share (EPS) estimates for shares of Newmont in a report issued on Tuesday, April 23rd. Raymond James analyst B. Macarthur now expects that the company will post earnings per share of $0.84 for the quarter, up from their previous forecast of $0.48. 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 $1.07 EPS, Q4 2024 earnings at $1.12 EPS and FY2024 earnings at $3.51 EPS.

Several other research firms have also issued reports on NGT. National Bankshares reduced 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, April 19th. National Bank Financial reissued an “outperform overweight” rating on shares of Newmont in a report on Monday, April 8th.

Newmont Stock Up 12.1 %

NGT stock opened at C$59.26 on Friday. The stock has a market capitalization of C$68.15 billion, a price-to-earnings ratio of -14.42, 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. The company has a debt-to-equity ratio of 32.67, a current ratio of 1.25 and a quick ratio of 1.77. The business’s fifty day moving average price is C$48.04 and its two-hundred day moving average price is C$50.06.

Newmont (TSE:NGT) last posted its quarterly earnings data on Thursday, February 22nd. The company reported C$0.68 earnings per share for the quarter, missing the consensus estimate of C$0.70 by C($0.02). The firm had revenue of C$5.39 billion for the quarter, compared to the consensus estimate of C$4.37 billion. Newmont had a negative return on equity of 10.23% and a negative net margin of 21.11%.

Newmont Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be paid a $0.338 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This is a positive change from Newmont’s previous quarterly dividend of $0.34. This represents a $1.35 annualized dividend and a yield of 2.28%. Newmont’s dividend payout ratio (DPR) is -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.