National Bank Financial Expects Higher Earnings for Newmont

Newmont Co. (TSE:NGT - Free Report) - Stock analysts at National Bank Financial boosted their FY2024 earnings per share estimates for shares of Newmont in a report issued on Tuesday, October 22nd. National Bank Financial analyst M. Parkin now anticipates that the company will post earnings of $4.50 per share for the year, up from their previous estimate of $4.02. The consensus estimate for Newmont's current full-year earnings is $5.51 per share. National Bank Financial also issued estimates for Newmont's FY2025 earnings at $6.10 EPS.

Newmont (TSE:NGT - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported C$1.11 earnings per share 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 analysts' expectations of C$5.79 billion. Newmont had a negative return on equity of 8.09% and a negative net margin of 13.29%.

A number of other research analysts have also commented on NGT. Argus upgraded shares of Newmont from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 29th. Cibc World Mkts raised Newmont from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 10th. Finally, Scotiabank upgraded Newmont from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 19th. One research analyst has rated the stock with a hold rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, Newmont has an average rating of "Strong Buy" and an average price target of C$68.00.

Newmont Stock Performance

NGT stock traded down C$0.86 on Friday, hitting C$67.33. The company's stock had a trading volume of 628,268 shares, compared to its average volume of 207,188. The stock has a market cap of C$77.43 billion, a price-to-earnings ratio of -17.50, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. The firm has a 50 day moving average of C$72.70 and a two-hundred day moving average of C$63.93. The company has a current ratio of 2.11, a quick ratio of 1.77 and a debt-to-equity ratio of 31.20. Newmont has a 1 year low of C$39.96 and a 1 year high of C$81.16.

Newmont Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be issued a dividend of $0.338 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.35 annualized dividend and a yield of 2.01%. Newmont's dividend payout ratio is currently -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.