Newmont Co. (TSE:NGT) Receives C$68.00 Average Target Price from Brokerages

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

NGT has been the subject of several analyst reports. UBS Group downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. CLSA upgraded shares of Newmont to a “hold” rating in a report on Friday, November 29th. Scotiabank lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th. Citigroup lowered their price objective on shares of Newmont from C$66.00 to C$45.00 and set a “buy” rating on the stock in a research 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 Stock Down 0.7 %

TSE NGT opened at C$54.55 on Monday. Newmont has a 12 month low of C$39.96 and a 12 month high of C$81.16. The company has a market capitalization of C$62.73 billion, a P/E ratio of -14.39, a PEG ratio of 1.43 and a beta of 0.51. The company’s 50 day simple moving average is C$61.54 and its 200 day simple moving average is C$65.00. The company has a debt-to-equity ratio of 31.20, a current ratio of 2.11 and a quick ratio of 1.77.

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

Newmont Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th were paid a $0.338 dividend. 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 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.