Brokerages Set Newmont Co. (TSE:NGT) Price Target at C$68.00

Newmont Co. (TSE:NGT) has been assigned an average rating of “Moderate Buy” from the seven research firms that are covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is C$68.00.

Several equities analysts recently issued reports on the company. UBS Group lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Scotiabank cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th. CLSA upgraded shares of Newmont to a “hold” rating in a report on Friday. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, Argus upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 29th.

Newmont Stock Down 0.1 %

TSE:NGT opened at C$58.91 on Thursday. The stock’s fifty day simple moving average is C$68.01 and its 200-day simple moving average is C$65.07. The firm has a market capitalization of C$67.75 billion, a P/E ratio of -15.54, a P/E/G ratio of 1.43 and a beta of 0.51. The company has a quick ratio of 1.77, a current ratio of 2.11 and a debt-to-equity ratio of 31.20. Newmont has a 12-month low of C$39.96 and a 12-month high of C$81.16.

Newmont (TSE:NGT) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported C$1.11 EPS for the quarter, topping the consensus estimate of C$1.07 by C$0.04. Newmont had a negative return on equity of 8.09% and a negative net margin of 13.29%. The business had revenue of C$6.28 billion for the quarter, compared to the consensus estimate of C$5.79 billion. Equities research analysts expect that Newmont will post 5.509887 earnings per share for the current year.

Newmont Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be paid a $0.338 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.35 annualized dividend and a yield of 2.30%. Newmont’s payout ratio is currently -35.62%.

Newmont Company Profile

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.