Research Analysts Offer Predictions for Newmont Co.’s Q2 2023 Earnings (TSE:NGT)

Posted by on Apr 24th, 2023

Newmont Co. (TSE:NGT – Get Rating) – Equities research analysts at Raymond James upped their Q2 2023 earnings per share estimates for shares of Newmont in a research report issued to clients and investors on Wednesday, April 19th. Raymond James analyst B. Macarthur now anticipates that the company will post earnings of $0.58 per share for the quarter, up from their previous forecast of $0.55. The consensus estimate for Newmont’s current full-year earnings is $3.79 per share. Raymond James also issued estimates for Newmont’s Q4 2023 earnings at $0.88 EPS and FY2024 earnings at $2.89 EPS.

Separately, National Bankshares raised their price target on Newmont from C$76.00 to C$86.00 and gave the company an “outperform” rating in a research report on Friday, January 13th.

Newmont Price Performance

NGT stock opened at C$64.49 on Monday. The company has a market capitalization of C$51.24 billion, a P/E ratio of -83.75, a PEG ratio of 0.78 and a beta of 0.34. Newmont has a twelve month low of C$51.44 and a twelve month high of C$95.53. The business has a 50 day simple moving average of C$63.67 and a 200-day simple moving average of C$63.57. The company has a current ratio of 2.23, a quick ratio of 1.77 and a debt-to-equity ratio of 31.99.

Newmont (TSE:NGT – Get Rating) last announced its quarterly earnings results on Thursday, February 23rd. The company reported C$0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.56 by C$0.04. The firm had revenue of C$4.34 billion during the quarter, compared to the consensus estimate of C$3.95 billion. Newmont had a negative return on equity of 1.93% and a negative net margin of 3.60%.

Newmont Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 23rd. Shareholders of record on Thursday, March 9th were given a dividend of $0.532 per share. The ex-dividend date was Wednesday, March 8th. This represents a $2.13 dividend on an annualized basis and a yield of 3.30%. Newmont’s dividend payout ratio (DPR) is presently -285.71%.

About Newmont

(Get Rating)

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, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.

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Earnings History and Estimates for Newmont (TSE:NGT)

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