Raymond James Comments on Newmont Co.’s Q4 2024 Earnings (TSE:NGT)

Newmont Co. (TSE:NGT) – Research analysts at Raymond James lowered their Q4 2024 earnings per share estimates for Newmont in a research note issued to investors on Monday, July 8th. Raymond James analyst B. Macarthur now expects that the company will post earnings per share of $1.01 for the quarter, down from their previous estimate of $1.02. The consensus estimate for Newmont’s current full-year earnings is $4.52 per share. Raymond James also issued estimates for Newmont’s Q1 2025 earnings at $0.72 EPS, Q2 2025 earnings at $0.78 EPS, Q3 2025 earnings at $0.80 EPS, Q4 2025 earnings at $0.83 EPS and FY2025 earnings at $3.12 EPS.

Newmont (TSE:NGT) last posted its quarterly earnings data on Thursday, April 25th. The company reported C$0.74 EPS for the quarter, topping analysts’ consensus estimates of C$0.48 by C$0.26. The firm had revenue of C$5.42 billion during the quarter, compared to analysts’ expectations of C$4.59 billion. Newmont had a negative return on equity of 10.98% and a negative net margin of 20.33%.

NGT has been the subject of several other reports. BNP Paribas upgraded Newmont to a “strong-buy” rating in a report on Friday, June 21st. UBS Group upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 17th. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. National Bank Financial downgraded shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Tuesday, April 30th. Finally, National Bankshares raised their target price on shares of Newmont from C$67.00 to C$68.00 and gave the stock a “sector perform” rating in a research report on Monday, June 10th. Two equities research analysts have rated the stock with a hold rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$59.00.

Newmont Stock Performance

TSE:NGT opened at C$64.27 on Wednesday. The company has a debt-to-equity ratio of 32.56, a current ratio of 2.15 and a quick ratio of 1.77. The firm has a market cap of C$73.91 billion, a PE ratio of -14.38, a P/E/G ratio of 0.78 and a beta of 0.49. The firm has a 50 day simple moving average of C$57.82 and a 200-day simple moving average of C$52.01. Newmont has a 1-year low of C$39.96 and a 1-year high of C$64.36.

Newmont Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th were paid a $0.338 dividend. This represents a $1.35 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date was Tuesday, June 4th. This is an increase from Newmont’s previous quarterly dividend of $0.34. Newmont’s dividend payout ratio (DPR) is currently -30.65%.

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.