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

Shares of Newmont Co. (TSE:NGT) have been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and two have given a strong buy rating 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$68.00.

A number of research firms have issued reports on NGT. Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. CLSA upgraded Newmont to a “hold” rating in a research note on Friday. UBS Group downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Scotiabank cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th. Finally, Argus raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 29th.

Newmont Price Performance

Shares of Newmont stock opened at C$57.41 on Thursday. Newmont has a twelve month low of C$39.96 and a twelve month high of C$81.16. The company has a debt-to-equity ratio of 31.20, a quick ratio of 1.77 and a current ratio of 2.11. The firm has a market cap of C$66.02 billion, a P/E ratio of -15.15, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. The firm’s 50-day simple moving average is C$68.01 and its 200-day simple moving average is C$65.12.

Newmont (TSE:NGT) last announced its 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 business had revenue of C$6.28 billion for the quarter, compared to the consensus estimate of C$5.79 billion. Newmont had a negative return on equity of 8.09% and a negative net margin of 13.29%. As a group, research analysts expect that Newmont will post 5.509887 EPS for the current fiscal year.

Newmont Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be issued a $0.338 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.35 dividend on an annualized basis and a yield of 2.35%. Newmont’s dividend payout ratio (DPR) 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.