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

Newmont Co. (NYSE:NEMFree Report) – Research analysts at National Bank Financial increased their FY2024 earnings estimates for shares of Newmont in a report released on Sunday, June 9th. National Bank Financial analyst M. Parkin now anticipates that the basic materials company will post earnings per share of $2.44 for the year, up from their previous forecast of $2.38. National Bank Financial has a “Sector Perform Overweight” rating on the stock. The consensus estimate for Newmont’s current full-year earnings is $2.41 per share. National Bank Financial also issued estimates for Newmont’s FY2025 earnings at $2.75 EPS and FY2026 earnings at $2.18 EPS.

Newmont (NYSE:NEMGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.20. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same period in the previous year, the firm posted $0.40 EPS. The firm’s revenue was up 50.2% on a year-over-year basis.

Other research analysts also recently issued research reports about the stock. Argus downgraded shares of Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Sanford C. Bernstein dropped their target price on shares of Newmont from $46.00 to $45.00 and set a “market perform” rating on the stock in a research report on Thursday, May 16th. Scotiabank boosted their target price on shares of Newmont from $46.50 to $48.00 and gave the company a “sector perform” rating in a research report on Thursday, May 23rd. Jefferies Financial Group started coverage on shares of Newmont in a research report on Thursday, February 29th. They set a “buy” rating and a $38.00 target price on the stock. Finally, Citigroup dropped their target price on shares of Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, April 4th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Newmont has a consensus rating of “Hold” and an average target price of $48.36.

Check Out Our Latest Stock Report on Newmont

Newmont Stock Down 1.0 %

Shares of NYSE NEM opened at $40.56 on Wednesday. The company has a market capitalization of $46.77 billion, a P/E ratio of -15.19, a price-to-earnings-growth ratio of 0.34 and a beta of 0.52. Newmont has a 52-week low of $29.42 and a 52-week high of $45.92. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.90 and a current ratio of 2.15. The company’s 50 day moving average price is $41.03 and its 200-day moving average price is $37.96.

Hedge Funds Weigh In On Newmont

Several institutional investors have recently added to or reduced their stakes in the stock. OMC Financial Services LTD purchased a new stake in Newmont during the first quarter valued at about $336,000. DekaBank Deutsche Girozentrale lifted its holdings in Newmont by 135.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,303,746 shares of the basic materials company’s stock valued at $46,925,000 after purchasing an additional 750,319 shares during the last quarter. Clean Yield Group purchased a new stake in Newmont during the first quarter valued at about $43,000. Teachers Retirement System of The State of Kentucky lifted its holdings in Newmont by 35.6% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 94,471 shares of the basic materials company’s stock valued at $3,386,000 after purchasing an additional 24,819 shares during the last quarter. Finally, Cetera Advisors LLC lifted its holdings in Newmont by 30.3% during the first quarter. Cetera Advisors LLC now owns 21,464 shares of the basic materials company’s stock valued at $769,000 after purchasing an additional 4,987 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 4th. This represents a $1.00 annualized dividend and a yield of 2.47%. Newmont’s payout ratio is currently -37.45%.

Newmont Company Profile

(Get Free Report)

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.

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Earnings History and Estimates for Newmont (NYSE:NEM)

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