Newmont Co. Forecasted to Post FY2024 Earnings of $3.33 Per Share (TSE:NGT)

Newmont Co. (TSE:NGT - Free Report) - National Bank Financial raised their FY2024 earnings estimates for shares of Newmont in a research report issued to clients and investors on Tuesday, April 30th. National Bank Financial analyst M. Parkin now forecasts that the company will earn $3.33 per share for the year, up from their prior estimate of $2.22. National Bank Financial has a "Sector Perform Overweight" rating on the stock. The consensus estimate for Newmont's current full-year earnings is $3.48 per share. National Bank Financial also issued estimates for Newmont's FY2025 earnings at $3.85 EPS and FY2026 earnings at $3.21 EPS.

Newmont (TSE:NGT - Get Free Report) last announced its earnings results on Thursday, February 22nd. The company reported C$0.68 earnings per share for the quarter, missing analysts' consensus estimates 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%.

Separately, National Bankshares downgraded shares of Newmont from an "outperform" rating to a "sector perform" rating and reduced their price objective for the stock from C$69.00 to C$68.00 in a research report on Wednesday.

Newmont Trading Down 1.0 %

Shares of NGT stock traded down C$0.54 during mid-day trading on Friday, hitting C$55.64. The company's stock had a trading volume of 336,461 shares, compared to its average volume of 255,098. The company has a market cap of C$63.99 billion, a PE ratio of -13.54, a P/E/G ratio of 0.78 and a beta of 0.54. The company has a debt-to-equity ratio of 32.67, a quick ratio of 1.77 and a current ratio of 1.25. The company's fifty day simple moving average is C$49.29 and its 200-day simple moving average is C$50.20. Newmont has a 52 week low of C$39.96 and a 52 week high of C$68.15.

Newmont Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be given a $0.338 dividend. This represents a $1.35 dividend on an annualized basis and a yield of 2.43%. This is a positive change from Newmont's previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont's payout ratio is presently -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.