Newmont Co. (TSE:NGT) to Post FY2024 Earnings of $3.33 Per Share, National Bank Financial Forecasts

Newmont Co. (TSE:NGT) – Stock analysts at National Bank Financial increased their FY2024 earnings estimates for Newmont in a research report issued to clients and investors on Tuesday, April 30th. National Bank Financial analyst M. Parkin now anticipates that the company will post earnings per share of $3.33 for the year, up from their previous estimate of $2.22. National Bank Financial currently has a “Sector Perform Overweight” rating on the stock. The consensus estimate for Newmont’s current full-year earnings is $4.56 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) last announced its earnings results on Thursday, February 22nd. The company reported C$0.68 EPS for the quarter, missing the consensus estimate of C$0.70 by C($0.02). The company had revenue of C$5.39 billion for the quarter, compared to analyst estimates of C$4.37 billion. Newmont had a negative return on equity of 10.98% and a negative net margin of 20.33%.

Separately, National Bankshares lowered shares of Newmont from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from C$69.00 to C$68.00 in a report on Wednesday.

Newmont Price Performance

Newmont stock opened at C$55.64 on Friday. The stock’s 50 day moving average is C$49.55 and its 200 day moving average is C$50.21. Newmont has a one year low of C$39.96 and a one year high of C$65.40. The firm has a market cap of C$63.99 billion, a P/E ratio of -12.39, a P/E/G ratio of 0.78 and a beta of 0.54. The company has a debt-to-equity ratio of 32.56, a current ratio of 2.15 and a quick ratio of 1.77.

Newmont Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th will be given a $0.338 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This is a positive change from Newmont’s previous quarterly dividend of $0.34. This represents a $1.35 annualized dividend and a dividend yield of 2.43%. Newmont’s dividend payout ratio (DPR) is -30.51%.

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.