Newmont Co. (TSE:NGT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Newmont Co. (TSE:NGT) have been given an average rating of “Moderate Buy” by the seven brokerages that are presently covering the firm, MarketBeat.com reports. Five research 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 brokers that have issued ratings on the stock in the last year is C$68.00.

NGT has been the topic of a number of research reports. CLSA upgraded shares of Newmont to a “hold” rating in a research report on Friday, November 29th. Argus raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. Scotiabank downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 25th. Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, UBS Group cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th.

Newmont Stock Performance

Shares of NGT stock opened at C$55.12 on Monday. The stock has a market capitalization of C$63.39 billion, a PE ratio of -14.54, a PEG ratio of 1.43 and a beta of 0.51. The business’s 50 day simple moving average is C$63.60 and its 200 day simple moving average is C$65.00. The company has a debt-to-equity ratio of 31.20, a current ratio of 2.11 and a quick ratio of 1.77. Newmont has a one year low of C$39.96 and a one year high of C$81.16.

Newmont (TSE:NGT) last announced its earnings results on Wednesday, October 23rd. The company reported C$1.11 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.07 by C$0.04. The business had revenue of C$6.28 billion during the quarter, compared to the consensus estimate of C$5.79 billion. Newmont had a negative net margin of 13.29% and a negative return on equity of 8.09%. As a group, research analysts forecast that Newmont will post 5.509887 earnings per share 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 2.45%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s payout ratio is currently -35.62%.

About Newmont

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.