Newmont Co. (TSE:NGT) Receives C$68.00 Consensus Price Target from Brokerages

Newmont Co. (TSE:NGT) has earned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is C$68.00.

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

Newmont Stock Performance

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

Newmont (TSE:NGT) last announced its earnings results on Wednesday, October 23rd. The company reported C$1.11 EPS for the quarter, beating the consensus estimate of C$1.07 by C$0.04. The company had revenue of C$6.28 billion for the quarter, compared to analyst estimates of C$5.79 billion. Newmont had a negative return on equity of 8.09% and a negative net margin of 13.29%. As a group, analysts predict that Newmont will post 5.509887 EPS for the current year.

Newmont Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be given a dividend of $0.338 per share. This represents a $1.35 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Wednesday, November 27th. 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.