Newmont Co. Forecasted to Post FY2024 Earnings of $2.58 Per Share (NYSE:NEM)

Newmont Co. (NYSE:NEM) – Raymond James lifted their FY2024 earnings per share (EPS) estimates for shares of Newmont in a report released on Friday, April 26th. Raymond James analyst B. Macarthur now anticipates that the basic materials company will post earnings of $2.58 per share for the year, up from their prior forecast of $2.56. The consensus estimate for Newmont’s current full-year earnings is $2.16 per share. Raymond James also issued estimates for Newmont’s Q1 2025 earnings at $0.53 EPS, Q2 2025 earnings at $0.58 EPS, Q4 2025 earnings at $0.61 EPS and FY2025 earnings at $2.32 EPS.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.20. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter last year, the company earned $0.40 earnings per share. The firm’s revenue for the quarter was up 50.2% compared to the same quarter last year.

A number of other brokerages also recently weighed in on NEM. Citigroup dropped their price objective on Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, April 4th. StockNews.com upgraded Newmont from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. TD Securities increased their price target on Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Jefferies Financial Group initiated coverage on Newmont in a research note on Thursday, February 29th. They issued a “buy” rating and a $38.00 price target for the company. Finally, Royal Bank of Canada decreased their price target on Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a research note on Thursday, February 8th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.75.

Newmont Price Performance

Shares of NEM stock opened at $40.64 on Monday. Newmont has a 1-year low of $29.42 and a 1-year high of $50.18. The stock’s 50-day moving average is $35.86 and its 200 day moving average is $36.96. The company has a market cap of $46.85 billion, a P/E ratio of -15.22, a PEG ratio of 1.09 and a beta of 0.50. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.15 and a quick ratio of 1.90.

Institutional Trading of Newmont

Institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue boosted its stake in shares of Newmont by 27.5% in the fourth quarter. State of Alaska Department of Revenue now owns 170,138 shares of the basic materials company’s stock worth $7,041,000 after acquiring an additional 36,645 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Newmont by 22.3% in the third quarter. Janney Montgomery Scott LLC now owns 145,639 shares of the basic materials company’s stock worth $5,382,000 after acquiring an additional 26,599 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Newmont by 13.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 795,517 shares of the basic materials company’s stock worth $32,926,000 after acquiring an additional 94,692 shares during the last quarter. KLCM Advisors Inc. boosted its stake in shares of Newmont by 4.3% in the fourth quarter. KLCM Advisors Inc. now owns 427,826 shares of the basic materials company’s stock worth $17,708,000 after acquiring an additional 17,791 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in Newmont by 70.5% during the fourth quarter. Pacer Advisors Inc. now owns 85,401 shares of the basic materials company’s stock worth $3,535,000 after buying an additional 35,303 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.46%. The ex-dividend date is Tuesday, June 4th. Newmont’s payout ratio is currently -37.45%.

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.