Newmont Co. (TSE:NGT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Newmont Co. (TSE:NGT) has been given an average rating of “Moderate Buy” by the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, one has given a buy recommendation and three have issued a strong buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is C$56.50.

Several analysts have weighed in on the stock. Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Scotiabank cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th. UBS Group cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Citigroup dropped their price objective on Newmont from C$66.00 to C$45.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. Finally, The Goldman Sachs Group raised shares of Newmont to a “strong-buy” rating in a research note on Monday.

Newmont Price Performance

Shares of Newmont stock opened at C$59.91 on Friday. The firm has a market capitalization of C$68.90 billion, a PE ratio of -15.81, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. The company has a current ratio of 2.11, a quick ratio of 1.77 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. The business’s 50-day moving average price is C$57.53 and its 200-day moving average price is C$64.87.

Newmont (TSE:NGT) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported C$1.11 EPS for the quarter, beating analysts’ consensus estimates 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%. Sell-side analysts forecast that Newmont will post 5.509887 EPS for the current fiscal year.

Newmont Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, November 27th were issued a dividend of $0.338 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 2.26%. Newmont’s dividend payout ratio is presently -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.