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

Newmont Co. (TSE:NGT) has been given a consensus recommendation of “Moderate Buy” by the eight research firms that are covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is C$56.50.

Several research analysts recently commented on the stock. Scotiabank lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Citigroup decreased their price target on Newmont from C$66.00 to C$45.00 and set a “buy” rating for the company in a report on Monday, December 23rd. UBS Group cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, CLSA raised shares of Newmont to a “hold” rating in a research report on Friday, November 29th.

Newmont Trading Down 0.7 %

NGT stock 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 has a market cap of C$62.73 billion, a price-to-earnings ratio of -14.39, a PEG ratio of 1.43 and a beta of 0.51. The business has a fifty day simple moving average of C$61.54 and a 200-day simple moving average of C$64.94. Newmont has a 52 week low of C$39.96 and a 52 week high of C$81.16.

Newmont (TSE:NGT) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported C$1.11 EPS for the quarter, topping the consensus estimate of C$1.07 by C$0.04. The company had revenue of C$6.28 billion during 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, equities research analysts expect that Newmont will post 5.509887 EPS for the current year.

Newmont Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th were given a $0.338 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 2.48%. Newmont’s payout ratio is currently -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.