Scotiabank Has Positive Estimate for Newmont FY2024 Earnings

Newmont Co. (TSE:NGT - Free Report) - Investment analysts at Scotiabank lifted their FY2024 EPS estimates for Newmont in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst T. Jakusconek now expects that the company will post earnings of $4.70 per share for the year, up from their previous estimate of $4.00. Scotiabank currently has a "Hold" rating on the stock. The consensus estimate for Newmont's current full-year earnings is $5.51 per share. Scotiabank also issued estimates for Newmont's FY2025 earnings at $4.85 EPS and FY2026 earnings at $4.59 EPS.

Other equities analysts have also issued reports about the company. Citigroup cut their target price on Newmont from C$66.00 to C$45.00 and set a "buy" rating on the stock in a report on Monday, December 23rd. Cibc World Mkts cut shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 28th. CLSA raised shares of Newmont to a "hold" rating in a research report on Friday, November 29th. Finally, UBS Group lowered Newmont from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of C$56.50.

Newmont Trading Down 0.7 %

TSE:NGT opened at C$56.40 on Monday. Newmont has a fifty-two week low of C$39.96 and a fifty-two week high of C$81.16. The company has a debt-to-equity ratio of 31.20, a current ratio of 2.11 and a quick ratio of 1.77. The stock has a market cap of C$64.86 billion, a PE ratio of -14.88, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. The stock's 50-day moving average is C$57.86 and its two-hundred day moving average is C$64.85.

Newmont (TSE:NGT - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported C$1.11 EPS for the quarter, beating analysts' consensus estimates of C$1.07 by C$0.04. The company had revenue of C$6.28 billion during the quarter, compared to the consensus estimate of C$5.79 billion. Newmont had a negative return on equity of 8.09% and a negative net margin of 13.29%.

Newmont Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, November 27th were given a dividend of $0.338 per share. The ex-dividend date was Wednesday, November 27th. This represents a $1.35 dividend on an annualized basis and a yield of 2.40%. Newmont's dividend payout ratio (DPR) is presently -35.62%.

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.