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

Shares of Newmont Co. (TSE:NGT) have earned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is C$68.00.

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

Newmont Stock Performance

TSE:NGT opened at C$57.41 on Thursday. The company has a 50-day moving average of C$68.01 and a 200-day moving average of C$65.12. The firm has a market cap of C$66.02 billion, a price-to-earnings ratio of -15.15, a price-to-earnings-growth 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 has a twelve month low of C$39.96 and a twelve month high of C$81.16.

Newmont (TSE:NGT) 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. Newmont had a negative net margin of 13.29% and a negative return on equity of 8.09%. The firm had revenue of C$6.28 billion during the quarter, compared to analysts’ expectations of C$5.79 billion. Analysts forecast that Newmont will post 5.509887 earnings per share 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 paid a $0.338 dividend. This represents a $1.35 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s payout ratio is presently -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.