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

Shares of Newmont Co. (TSE:NGT) have been assigned an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is C$68.00.

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

Newmont Price 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 company’s fifty day simple moving average is C$68.01 and its 200 day simple moving average is C$65.07. Newmont has a 1-year low of C$39.96 and a 1-year high of C$81.16. The company has a market cap of C$67.75 billion, a price-to-earnings ratio of -15.54, a PEG ratio of 1.43 and a beta of 0.51.

Newmont (TSE:NGT) last issued its earnings results on Wednesday, October 23rd. The company reported C$1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.07 by C$0.04. Newmont had a negative net margin of 13.29% and a negative return on equity of 8.09%. The company had revenue of C$6.28 billion for the quarter, compared to analysts’ expectations of C$5.79 billion. On average, research analysts forecast that Newmont will post 5.509887 earnings per share for the current fiscal year.

Newmont Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders 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 annualized dividend and a dividend yield of 2.30%. Newmont’s dividend payout ratio is presently -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.