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

Newmont Co. (TSE:NGT) has earned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is C$68.00.

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

Newmont Stock Performance

NGT opened at C$55.12 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. Newmont has a 12-month low of C$39.96 and a 12-month high of C$81.16. The business has a 50 day moving average of C$63.60 and a 200-day moving average of C$65.00. The stock has a market cap of C$63.39 billion, a price-to-earnings ratio of -14.54, a PEG ratio of 1.43 and a beta of 0.51.

Newmont (TSE:NGT) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported C$1.11 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of C$5.79 billion. On average, equities research 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 will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be issued a $0.338 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $1.35 dividend on an annualized basis and a yield of 2.45%. Newmont’s 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.