What is Raymond James' Estimate for Newmont FY2024 Earnings?

Newmont Co. (TSE:NGT - Free Report) - Stock analysts at Raymond James lowered their FY2024 earnings per share estimates for shares of Newmont in a research note issued to investors on Monday, November 25th. Raymond James analyst B. Macarthur now forecasts that the company will post earnings per share of $4.08 for the year, down from their prior forecast of $4.11. The consensus estimate for Newmont's current full-year earnings is $5.51 per share. Raymond James also issued estimates for Newmont's Q4 2024 earnings at $1.21 EPS, Q2 2025 earnings at $1.06 EPS, Q3 2025 earnings at $1.08 EPS, Q4 2025 earnings at $1.12 EPS and FY2025 earnings at $4.38 EPS.

Several other research analysts also recently commented on NGT. UBS Group downgraded Newmont from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, October 30th. Argus upgraded shares of Newmont from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 29th. Cibc World Mkts downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 28th. Finally, Scotiabank cut shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of C$68.00.

Newmont Price Performance

Shares of NGT traded up C$0.08 during midday trading on Tuesday, hitting C$59.34. The company's stock had a trading volume of 180,515 shares, compared to its average volume of 209,618. The company has a quick ratio of 1.77, a current ratio of 2.11 and a debt-to-equity ratio of 31.20. Newmont has a one year low of C$39.96 and a one year high of C$81.16. The stock has a market capitalization of C$68.24 billion, a price-to-earnings ratio of -15.66, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. The company's fifty day simple moving average is C$68.81 and its two-hundred day simple moving average is C$65.10.

Newmont (TSE:NGT - Get Free Report) last posted its quarterly earnings results 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 business 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 business also recently disclosed 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 dividend on an annualized basis and a yield of 2.28%. 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.