Research Analysts Issue Forecasts for Newmont Co.'s Q2 2024 Earnings (TSE:NGT)

Newmont Co. (TSE:NGT - Free Report) - Equities researchers at Raymond James upped their Q2 2024 EPS estimates for Newmont in a report issued on Tuesday, April 23rd. Raymond James analyst B. Macarthur now anticipates that the company will post earnings per share of $0.84 for the quarter, up from their prior estimate 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 analysts have also weighed in on the stock. National Bankshares cut their price objective on shares of 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 reaffirmed an "outperform overweight" rating on shares of Newmont in a research note on Monday, April 8th.

Newmont Trading Down 1.5 %

TSE NGT traded down C$0.88 during trading hours on Friday, hitting C$58.38. 313,798 shares of the company's stock were exchanged, compared to its average volume of 254,174. The business's 50 day moving average is C$48.30 and its 200-day moving average is C$50.11. The company has a debt-to-equity ratio of 32.67, a quick ratio of 1.77 and a current ratio of 1.25. Newmont has a 12-month low of C$39.96 and a 12-month high of C$68.15. The firm has a market capitalization of C$67.14 billion, a P/E ratio of -14.20, a price-to-earnings-growth ratio of 0.78 and a beta of 0.54.

Newmont (TSE:NGT - Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The company reported C$0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.70 by C($0.02). The business had revenue of C$5.39 billion for the quarter, compared to analyst estimates 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 company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be given a dividend of $0.338 per share. This is a positive change from Newmont's previous quarterly dividend of $0.34. This represents a $1.35 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Monday, June 3rd. Newmont's dividend payout ratio is currently -33.09%.

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.