Newmont Co. (TSE:NGT) Receives C$68.00 Consensus PT from Brokerages

Shares of Newmont Co. (TSE:NGT - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the eight research firms that are currently covering the firm, MarketBeat reports. Five investment 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 twelve-month target price among brokerages that have updated their coverage on the stock in the last year is C$56.50.

Several research firms recently commented on NGT. CLSA upgraded Newmont to a "hold" rating in a research report on Friday, November 29th. Scotiabank cut shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 25th. Argus upgraded shares of Newmont from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 29th. Cibc World Mkts lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Monday, October 28th. Finally, Citigroup cut their target price on Newmont from C$66.00 to C$45.00 and set a "buy" rating for the company in a research note on Monday.

Newmont Stock Performance

Shares of TSE NGT traded down C$0.28 during trading on Monday, reaching C$54.84. 198,872 shares of the stock traded hands, compared to its average volume of 212,492. The company has a debt-to-equity ratio of 31.20, a current ratio of 2.11 and a quick ratio of 1.77. The stock has a market capitalization of C$63.07 billion, a P/E ratio of -14.47, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. Newmont has a 52-week low of C$39.96 and a 52-week high of C$81.16. The company has a 50-day moving average of C$63.60 and a 200-day moving average of C$65.05.

Newmont (TSE:NGT - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported C$1.11 EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of C$5.79 billion. Analysts forecast that Newmont will post 5.509887 EPS for the current fiscal year.

Newmont Cuts Dividend

The business 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. This represents a $1.35 annualized dividend and a yield of 2.47%. The ex-dividend date is Wednesday, November 27th. Newmont's dividend payout ratio (DPR) is -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.