Brokerages Set Newmont Co. (TSE:NGT) Target Price at C$68.00

Shares of Newmont Co. (TSE:NGT - Get Free Report) have been given a consensus rating of "Moderate Buy" by the six research firms that are presently covering the company, Marketbeat Ratings 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 12-month target price among brokers that have covered the stock in the last year is C$68.00.

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

Newmont Trading Up 0.2 %

TSE:NGT traded up C$0.10 during mid-day trading on Thursday, hitting C$58.98. 13,557 shares of the company's stock were exchanged, compared to its average volume of 208,304. Newmont has a fifty-two week low of C$39.96 and a fifty-two week high of C$81.16. The company has a 50 day simple moving average of C$68.54 and a 200-day simple moving average of C$65.10. The firm has a market capitalization of C$67.83 billion, a P/E ratio of -15.54, a PEG ratio of 1.43 and a beta of 0.51. The company has a current ratio of 2.11, a quick ratio of 1.77 and a debt-to-equity ratio of 31.20.

Newmont (TSE:NGT - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported C$1.11 earnings per share for the quarter, topping analysts' consensus estimates of C$1.07 by C$0.04. The business had revenue of C$6.28 billion during 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 earnings per share for the current year.

Newmont Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be given a dividend of $0.338 per share. This represents a $1.35 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Wednesday, November 27th. 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.