Newmont Co. (TSE:NGT) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Newmont Co. (TSE:NGT) have been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is C$68.00.

Several analysts have recently commented on NGT shares. Argus raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 29th. Scotiabank lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th. UBS Group lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th.

Newmont Stock Performance

Shares of NGT stock opened at C$62.71 on Friday. The business has a fifty day moving average of C$71.35 and a 200 day moving average of C$64.78. Newmont has a 1 year low of C$39.96 and a 1 year high of C$81.16. 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 firm has a market capitalization of C$72.12 billion, a price-to-earnings ratio of -16.55, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51.

Newmont (TSE:NGT) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported C$1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.07 by C$0.04. The firm had revenue of C$6.28 billion during the quarter, compared to analysts’ expectations 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 announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.338 per share. This represents a $1.35 annualized dividend and a dividend yield of 2.16%. 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.