Newmont Co. Forecasted to Earn Q1 2024 Earnings of $0.52 Per Share (TSE:NGT)

Newmont Co. (TSE:NGT) – Analysts at National Bank Financial issued their Q1 2024 EPS estimates for Newmont in a note issued to investors on Thursday, April 18th. National Bank Financial analyst M. Parkin anticipates that the company will earn $0.52 per share for the quarter. National Bank Financial currently has a “Outperform Overweight” rating on the stock. The consensus estimate for Newmont’s current full-year earnings is $3.48 per share. National Bank Financial also issued estimates for Newmont’s FY2024 earnings at $2.22 EPS and FY2025 earnings at $3.22 EPS.

Separately, National Bankshares reduced their price target on Newmont from C$71.00 to C$69.00 and set an “outperform” rating on the stock in a research note on Friday.

Newmont Price Performance

Shares of TSE NGT opened at C$51.38 on Monday. The stock has a market capitalization of C$59.09 billion, a P/E ratio of -12.50, a P/E/G ratio of 0.78 and a beta of 0.54. The company has a debt-to-equity ratio of 32.67, a current ratio of 1.25 and a quick ratio of 1.77. The company’s 50-day moving average is C$47.39 and its 200 day moving average is C$49.98. Newmont has a 1 year low of C$39.96 and a 1 year high of C$68.15.

Newmont (TSE:NGT) last announced its quarterly earnings results on Thursday, February 22nd. The company reported C$0.68 EPS for the quarter, missing analysts’ consensus estimates of C$0.70 by C($0.02). The business had revenue of C$5.39 billion during the quarter, compared to analysts’ expectations of C$4.37 billion. Newmont had a negative return on equity of 10.23% and a negative net margin of 21.11%.

Newmont Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 5th were given a dividend of $0.336 per share. This represents a $1.34 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend was Monday, March 4th. Newmont’s dividend payout ratio (DPR) is presently -33.09%.

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.