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

Shares of Newmont Co. (TSE:NGT) have earned an average rating of “Strong Buy” from the six research firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and five have given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is C$68.00.

NGT has been the topic of a number of analyst reports. Scotiabank upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 19th. BNP Paribas raised shares of Newmont to a “strong-buy” rating in a research note on Friday, June 21st. UBS Group raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 17th. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Finally, Argus raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 29th.

Newmont Trading Down 1.2 %

NGT opened at C$72.16 on Friday. 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 company’s 50 day simple moving average is C$67.66 and its two-hundred day simple moving average is C$58.78. Newmont has a 1-year low of C$39.96 and a 1-year high of C$73.60. The firm has a market capitalization of C$82.98 billion, a price-to-earnings ratio of -19.40, a price-to-earnings-growth ratio of 1.24 and a beta of 0.51.

Newmont (TSE:NGT) last announced its earnings results on Wednesday, July 24th. The company reported C$0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.72 by C$0.27. The company had revenue of C$6.02 billion for the quarter, compared to analyst estimates of C$4.79 billion. Newmont had a negative return on equity of 8.09% and a negative net margin of 13.29%. Analysts expect that Newmont will post 6.8487562 EPS for the current fiscal year.

Newmont Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 5th will be issued a $0.342 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.37 dividend on an annualized basis and a dividend yield of 1.90%. This is a boost from Newmont’s previous quarterly dividend of $0.34. Newmont’s dividend payout ratio is -36.29%.

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.