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

Newmont Co. (TSE:NGT) – Equities research analysts at National Bank Financial issued their Q1 2024 earnings per share (EPS) estimates for Newmont in a report issued on Thursday, April 18th. National Bank Financial analyst M. Parkin forecasts that the company will post earnings per share of $0.52 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.

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

Separately, National Bankshares reduced their price objective on Newmont from C$71.00 to C$69.00 and set an “outperform” rating for the company in a report on Friday, April 19th.

Newmont Price Performance

Shares of TSE:NGT opened at C$51.58 on Monday. Newmont has a 1-year low of C$39.96 and a 1-year high of C$68.15. The business has a fifty day moving average price of C$47.56 and a 200-day moving average price of C$49.98. The company has a market capitalization of C$59.32 billion, a PE ratio of -12.55, a PEG 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.

Newmont Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 5th were issued a $0.336 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $1.34 annualized dividend and a yield of 2.61%. Newmont’s payout ratio is -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.