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

Shares of Newmont Co. (TSE:NGT) have earned an average rating of “Moderate Buy” from the eight analysts that are presently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is C$56.50.

NGT has been the subject of several recent research reports. CLSA upgraded shares of Newmont to a “hold” rating in a research report on Friday, November 29th. UBS Group lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Scotiabank lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 25th. Citigroup cut their price target on Newmont from C$66.00 to C$45.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. Finally, Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th.

Newmont Price Performance

NGT opened at C$54.55 on Monday. The company has a quick ratio of 1.77, a current ratio of 2.11 and a debt-to-equity ratio of 31.20. The company’s 50-day moving average price is C$61.54 and its 200 day moving average price is C$65.00. Newmont has a fifty-two week low of C$39.96 and a fifty-two week high of C$81.16. The firm has a market cap of C$62.73 billion, a price-to-earnings ratio of -14.39, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51.

Newmont (TSE:NGT) last announced its quarterly 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 the consensus estimate 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, sell-side analysts expect that Newmont will post 5.509887 earnings per share for the current year.

Newmont Cuts Dividend

The company 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 annualized dividend and a yield of 2.48%. Newmont’s payout ratio is -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.