Newmont Co. (TSE:NGT) Receives Average Rating of "Moderate Buy" from Brokerages

Shares of Newmont Co. (TSE:NGT - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the six ratings firms that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating and two have given a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is C$68.00.

A number of research analysts have recently weighed in on the stock. UBS Group downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 30th. Cibc World Mkts downgraded Newmont from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 28th. Scotiabank lowered Newmont from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 25th. Finally, Argus upgraded shares of Newmont from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 29th.

Newmont Stock Performance

TSE:NGT traded up C$0.10 during trading hours on Thursday, reaching C$58.98. 13,557 shares of the stock were exchanged, compared to its average volume of 208,304. Newmont has a 52 week low of C$39.96 and a 52 week high of C$81.16. 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 stock has a market capitalization of C$67.83 billion, a P/E ratio of -15.54, a P/E/G ratio of 1.43 and a beta of 0.51. The firm has a 50 day simple moving average of C$68.54 and a 200-day simple moving average of C$65.10.

Newmont (TSE:NGT - Get Free Report) last announced 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 during the quarter, compared to the consensus estimate of C$5.79 billion. Newmont had a negative net margin of 13.29% and a negative return on equity of 8.09%. As a group, sell-side analysts forecast that Newmont will post 5.509887 earnings per share for the current fiscal year.

Newmont Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.338 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 2.29%. Newmont's payout ratio is currently -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.