Raymond James Weighs in on Newmont Co.’s Q2 2024 Earnings (TSE:NGT)

Newmont Co. (TSE:NGT) – Raymond James lifted their Q2 2024 earnings per share estimates for Newmont in a note issued to investors on Monday, July 8th. Raymond James analyst B. Macarthur now anticipates that the company will post earnings per share of $0.82 for the quarter, up from their prior estimate of $0.81. The consensus estimate for Newmont’s current full-year earnings is $4.52 per share.

Newmont (TSE:NGT) last released its quarterly earnings results 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 company had revenue of C$5.42 billion for the quarter, compared to analyst estimates of C$4.59 billion. Newmont had a negative return on equity of 10.98% and a negative net margin of 20.33%.

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

Newmont Trading Up 0.8 %

TSE NGT opened at C$64.78 on Thursday. The firm has a market cap of C$74.50 billion, a P/E ratio of -14.49, a P/E/G ratio of 0.78 and a beta of 0.49. 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 stock’s 50-day moving average is C$58.00 and its 200-day moving average is C$52.07. Newmont has a one year low of C$39.96 and a one year high of C$65.43.

Newmont Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Tuesday, June 4th were paid a $0.338 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This is an increase from Newmont’s previous quarterly dividend of $0.34. This represents a $1.35 annualized dividend and a yield of 2.09%. Newmont’s payout ratio is -30.65%.

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.