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

Shares of Newmont Co. (TSE:NGT) have been given a consensus rating of “Moderate Buy” by the six brokerages that are currently covering the stock, MarketBeat reports. Four 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 target among brokerages that have issued ratings on the stock in the last year is C$68.00.

Several equities analysts have recently commented on NGT shares. Argus upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. UBS Group lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report 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. Finally, Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th.

Newmont Stock Performance

Newmont stock opened at C$58.88 on Thursday. Newmont has a 12-month low of C$39.96 and a 12-month high of C$81.16. The company has a debt-to-equity ratio of 31.20, a current ratio of 2.11 and a quick ratio of 1.77. The company has a market capitalization of C$67.71 billion, a price-to-earnings ratio of -15.54, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. The firm’s fifty day moving average price is C$68.54 and its 200 day moving average price is C$65.10.

Newmont (TSE:NGT) last announced its earnings results on Wednesday, October 23rd. The company reported C$1.11 earnings per share (EPS) for the quarter, topping 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 analyst estimates of C$5.79 billion. Newmont had a negative return on equity of 8.09% and a negative net margin of 13.29%. On average, research 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 will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be paid 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 yield of 2.30%. 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.