Q2 2024 EPS Estimates for Newmont Co. (NYSE:NEM) Boosted by Zacks Research

Newmont Co. (NYSE:NEM - Free Report) - Research analysts at Zacks Research raised their Q2 2024 earnings estimates for Newmont in a report released on Thursday, May 9th. Zacks Research analyst A. Barman now anticipates that the basic materials company will post earnings of $0.48 per share for the quarter, up from their previous forecast of $0.45. The consensus estimate for Newmont's current full-year earnings is $2.40 per share. Zacks Research also issued estimates for Newmont's Q3 2024 earnings at $0.56 EPS, Q4 2024 earnings at $0.56 EPS, FY2024 earnings at $2.15 EPS, Q2 2025 earnings at $0.59 EPS, Q4 2025 earnings at $0.49 EPS and FY2025 earnings at $2.39 EPS.

Several other brokerages also recently issued reports on NEM. Jefferies Financial Group began coverage on shares of Newmont in a research note on Thursday, February 29th. They issued a "buy" rating and a $38.00 target price on the stock. Scotiabank decreased their price objective on shares of Newmont from $50.00 to $43.50 and set a "sector perform" rating for the company in a report on Wednesday, February 28th. StockNews.com raised shares of Newmont from a "sell" rating to a "hold" rating in a report on Friday, April 26th. Royal Bank of Canada decreased their price objective on shares of Newmont from $45.00 to $40.00 and set a "sector perform" rating for the company in a report on Thursday, February 8th. Finally, National Bank Financial cut shares of Newmont from an "outperform overweight" rating to a "sector perform overweight" rating in a report on Tuesday, April 30th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $48.35.

Newmont Stock Down 0.1 %

Shares of NYSE NEM traded down $0.03 during midday trading on Monday, hitting $42.46. The stock had a trading volume of 5,991,628 shares, compared to its average volume of 13,251,273. The business's 50 day moving average is $37.53 and its 200-day moving average is $37.10. The company has a market cap of $48.96 billion, a P/E ratio of -15.85, a PEG ratio of 0.98 and a beta of 0.48. Newmont has a 52 week low of $29.42 and a 52 week high of $47.45. The company has a quick ratio of 1.90, a current ratio of 2.15 and a debt-to-equity ratio of 0.32.

Newmont (NYSE:NEM - Get Free Report) last issued its earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.20. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.66 billion. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The business's revenue was up 50.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.40 earnings per share.

Institutional Trading of Newmont

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Meeder Advisory Services Inc. increased its stake in shares of Newmont by 3.8% in the first quarter. Meeder Advisory Services Inc. now owns 7,560 shares of the basic materials company's stock worth $271,000 after purchasing an additional 278 shares in the last quarter. Grey Street Capital LLC lifted its position in Newmont by 0.4% during the fourth quarter. Grey Street Capital LLC now owns 69,874 shares of the basic materials company's stock valued at $2,892,000 after purchasing an additional 289 shares during the last quarter. Moody National Bank Trust Division lifted its position in Newmont by 1.7% during the first quarter. Moody National Bank Trust Division now owns 18,044 shares of the basic materials company's stock valued at $647,000 after purchasing an additional 296 shares during the last quarter. Reitz Capital Advisors LLC lifted its position in Newmont by 1.1% during the fourth quarter. Reitz Capital Advisors LLC now owns 28,174 shares of the basic materials company's stock valued at $1,166,000 after purchasing an additional 298 shares during the last quarter. Finally, Antonetti Capital Management LLC raised its stake in shares of Newmont by 30.0% in the third quarter. Antonetti Capital Management LLC now owns 1,300 shares of the basic materials company's stock valued at $48,000 after acquiring an additional 300 shares during the period. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.36%. Newmont's dividend payout ratio (DPR) is presently -37.45%.

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.