National Bank Financial Weighs in on Newmont Co.’s FY2024 Earnings (TSE:NGT)

Newmont Co. (TSE:NGT) – Investment analysts at National Bank Financial boosted their FY2024 EPS estimates for Newmont in a report issued on Tuesday, April 30th. National Bank Financial analyst M. Parkin now anticipates that the company will earn $3.33 per share 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 earnings per share 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 the consensus estimate 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 cut shares of Newmont from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from C$69.00 to C$68.00 in a research note on Wednesday.

Newmont Stock Down 1.0 %

NGT stock opened at C$55.64 on Friday. The company’s 50 day moving average is C$49.55 and its 200 day moving average is C$50.21. The stock has a market cap of C$63.99 billion, a price-to-earnings ratio of -12.39, a price-to-earnings-growth ratio of 0.78 and a beta of 0.54. The company has a current ratio of 2.15, a quick ratio of 1.77 and a debt-to-equity ratio of 32.56. Newmont has a 1-year low of C$39.96 and a 1-year high of C$65.40.

Newmont Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $0.338 per share. The ex-dividend date is Tuesday, June 4th. This represents a $1.35 annualized dividend and a yield of 2.43%. This is a positive change from Newmont’s previous quarterly dividend of $0.34. Newmont’s payout ratio 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.