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

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

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

Newmont Price Performance

TSE NGT opened at C$58.91 on Thursday. The firm’s 50-day simple moving average is C$68.01 and its two-hundred day simple moving average is C$65.07. 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 52 week low of C$39.96 and a 52 week high of C$81.16. The company has a market cap of C$67.75 billion, a PE ratio of -15.54, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51.

Newmont (TSE:NGT) last posted its earnings results on Wednesday, October 23rd. The company reported C$1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.07 by C$0.04. The business had revenue of C$6.28 billion for the quarter, compared to analysts’ expectations of C$5.79 billion. Newmont had a negative net margin of 13.29% and a negative return on equity of 8.09%. Research analysts predict 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 issued a dividend of $0.338 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.35 dividend on an annualized basis and a yield of 2.30%. Newmont’s dividend 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.