Newmont Co. (TSE:NGT – Get Rating) – Raymond James upped their FY2023 earnings per share estimates for shares of Newmont in a report released on Monday, July 11th. Raymond James analyst B. Macarthur now expects that the company will post earnings per share of $3.89 for the year, up from their previous estimate of $3.84. Raymond James also issued estimates for Newmont’s Q4 2023 earnings at $1.00 EPS.
Separately, National Bankshares downgraded Newmont from an “outperform” rating to a “sector perform” rating and boosted their price target for the company from C$107.00 to C$119.00 in a research note on Wednesday, April 20th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Newmont currently has a consensus rating of “Hold” and an average price target of C$83.96.
Shares of Newmont stock traded down C$3.15 during trading hours on Thursday, reaching C$72.36. 54,317 shares of the stock traded hands, compared to its average volume of 178,295. The company has a 50 day moving average price of C$83.55 and a 200 day moving average price of C$86.93. The firm has a market capitalization of C$57.43 billion and a price-to-earnings ratio of 46.61. Newmont has a one year low of C$66.25 and a one year high of C$108.98. The company has a quick ratio of 1.97, a current ratio of 2.92 and a debt-to-equity ratio of 28.71. Newmont (TSE:NGT – Get Rating) last released its quarterly earnings results on Friday, April 22nd. The company reported C$0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.89 by C($0.02). The business had revenue of C$3.83 billion during the quarter, compared to analyst estimates of C$3.76 billion.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 16th. Investors of record on Thursday, June 2nd were issued a $0.688 dividend. The ex-dividend date of this dividend was Wednesday, June 1st. This represents a $2.75 dividend on an annualized basis and a yield of 3.80%. Newmont’s dividend payout ratio is presently 135.80%.
Newmont Company Profile (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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