Raymond James Comments on Newmont Co.'s FY2023 Earnings (TSE:NGT)

Newmont Co. (TSE:NGT - Free Report) - Raymond James decreased their FY2023 earnings per share (EPS) estimates for shares of Newmont in a report released on Thursday, January 11th. Raymond James analyst B. Macarthur now anticipates that the company will post earnings per share of $2.21 for the year, down from their previous forecast of $2.37. The consensus estimate for Newmont's current full-year earnings is $4.49 per share. Raymond James also issued estimates for Newmont's Q4 2023 earnings at $0.72 EPS, Q3 2024 earnings at $0.94 EPS and Q4 2024 earnings at $0.98 EPS.

Several other research analysts also recently commented on NGT. National Bank Financial restated an "outperform overweight" rating on shares of Newmont in a research note on Wednesday, January 3rd. National Bankshares cut their target price on Newmont from C$81.00 to C$75.00 and set an "outperform" rating for the company in a research note on Tuesday, November 7th.

Newmont Stock Up 0.4 %

Shares of TSE NGT opened at C$50.50 on Monday. Newmont has a 52 week low of C$46.50 and a 52 week high of C$76.08. The business has a 50-day simple moving average of C$52.78 and a two-hundred day simple moving average of C$53.55. The company has a quick ratio of 1.77, a current ratio of 2.12 and a debt-to-equity ratio of 31.60. The company has a market cap of C$58.08 billion, a P/E ratio of -35.56, a P/E/G ratio of 0.78 and a beta of 0.51.

Newmont (TSE:NGT - Get Free Report) last issued its earnings results on Thursday, October 26th. The company reported C$0.49 EPS for the quarter, missing the consensus estimate of C$0.58 by C($0.09). Newmont had a negative return on equity of 3.95% and a negative net margin of 7.35%. The company had revenue of C$3.34 billion during the quarter, compared to the consensus estimate of C$4.35 billion.

Newmont Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Stockholders of record on Thursday, November 30th were given a dividend of $0.543 per share. This represents a $2.17 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date was Wednesday, November 29th. This is an increase from Newmont's previous quarterly dividend of $0.53. Newmont's dividend payout ratio (DPR) is -150.00%.

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, and Ghana. As of December 31, 2022, it had proven and probable gold reserves of 96.1 million ounces and land position of 61,500 square kilometers.

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