Equities Analysts Set Expectations for Newmont Q3 Earnings

Newmont Co. (TSE:NGT) – National Bank Financial issued their Q3 2024 earnings per share estimates for Newmont in a research report issued on Tuesday, October 22nd. National Bank Financial analyst M. Parkin expects that the company will post earnings per share of $1.20 for the quarter. The consensus estimate for Newmont’s current full-year earnings is $5.51 per share.

Newmont (TSE:NGT) last issued its quarterly earnings data on Wednesday, July 24th. The company reported C$0.99 earnings per share for the quarter, beating the consensus estimate of C$0.72 by C$0.27. Newmont had a negative net margin of 13.29% and a negative return on equity of 8.09%. The firm had revenue of C$6.02 billion for the quarter, compared to the consensus estimate of C$4.79 billion.

A number of other equities analysts have also issued reports on the company. Scotiabank raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Monday, August 19th. Argus upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. One research analyst has rated the stock with a hold rating and five have issued a strong buy rating to the company. According to MarketBeat, Newmont currently has a consensus rating of “Strong Buy” and an average target price of C$68.00.

Newmont Price Performance

TSE NGT opened at C$79.96 on Thursday. The company has a 50-day moving average price of C$72.68 and a two-hundred day moving average price of C$63.90. The stock has a market cap of C$91.95 billion, a price-to-earnings ratio of -21.10, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. The company has a current ratio of 2.11, a quick ratio of 1.77 and a debt-to-equity ratio of 31.20. Newmont has a 52 week low of C$39.96 and a 52 week high of C$81.16.

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.