Raymond James Issues Negative Estimate for Newmont Earnings

Newmont Co. (TSE:NGT - Free Report) - Investment analysts at Raymond James dropped their Q4 2024 earnings per share (EPS) estimates for Newmont in a research note issued to investors on Sunday, October 27th. Raymond James analyst B. Macarthur now forecasts that the company will post earnings per share of $1.28 for the quarter, down from their prior estimate of $1.31. The consensus estimate for Newmont's current full-year earnings is $5.51 per share. Raymond James also issued estimates for Newmont's Q1 2025 earnings at $1.20 EPS.

Newmont (TSE:NGT - Get Free Report) last announced its earnings results 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. Newmont had a negative return on equity of 8.09% and a negative net margin of 13.29%. The company had revenue of C$6.28 billion during the quarter, compared to analyst estimates of C$5.79 billion.

A number of other analysts have also weighed in on the company. Scotiabank lowered Newmont from a "strong-buy" rating to a "hold" rating in a research note on Friday. Argus upgraded Newmont from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 29th. Finally, Cibc World Mkts lowered Newmont from a "strong-buy" rating to a "hold" rating in a research note on Monday. Three research analysts have rated the stock with a hold rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of C$68.00.

Newmont Price Performance

Shares of TSE:NGT traded down C$0.68 during midday trading on Tuesday, reaching C$66.53. The company's stock had a trading volume of 261,309 shares, compared to its average volume of 207,556. 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 market capitalization of C$76.51 billion, a P/E ratio of -17.73, a P/E/G ratio of 1.43 and a beta of 0.51. 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 business's fifty day simple moving average is C$72.62 and its 200-day simple moving average is C$64.26.

Newmont Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be given a $0.338 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.35 dividend on an annualized basis and a yield of 2.03%. Newmont's payout ratio is -35.62%.

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.