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

Newmont Co. (TSE:NGT) has been assigned an average recommendation of “Strong Buy” from the five ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and four have assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is C$68.00.

Several equities analysts have recently issued reports on NGT shares. BNP Paribas raised shares of Newmont to a “strong-buy” rating in a report on Friday, June 21st. UBS Group raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 17th. National Bank Financial lowered Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research report on Tuesday, April 30th. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Finally, National Bankshares upped their price target on shares of Newmont from C$67.00 to C$68.00 and gave the company a “sector perform” rating in a report on Monday, June 10th.

Newmont Price Performance

Shares of NGT stock opened at C$70.36 on Tuesday. 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$70.96. The firm has a market cap of C$80.91 billion, a price-to-earnings ratio of -18.66, a PEG ratio of 1.24 and a beta of 0.49. The stock has a 50-day moving average price of C$63.59 and a 200 day moving average price of C$55.63.

Newmont (TSE:NGT) last released its earnings results on Wednesday, July 24th. The company reported C$0.99 EPS for the quarter, topping analysts’ consensus estimates of C$0.72 by C$0.27. The firm had revenue of C$6.02 billion during the quarter, compared to analyst estimates of C$4.79 billion. Newmont had a negative net margin of 13.29% and a negative return on equity of 8.09%. Research analysts expect that Newmont will post 5.7208333 EPS for the current year.

Newmont Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be paid a $0.342 dividend. This is an increase from Newmont’s previous quarterly dividend of $0.34. This represents a $1.37 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Thursday, September 5th. Newmont’s dividend payout ratio (DPR) is -36.60%.

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.