Brokerages Set Newmont Co. (TSE:NGT) Price Target at C$56.50

Shares of Newmont Co. (TSE:NGT) have been assigned a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is C$56.50.

A number of equities research analysts have commented on NGT shares. Scotiabank cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 25th. UBS Group cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Citigroup reduced their price objective on Newmont from C$66.00 to C$45.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, The Goldman Sachs Group raised Newmont to a “strong-buy” rating in a report on Monday, January 13th.

Newmont Trading Up 0.6 %

Shares of TSE NGT opened at C$60.28 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 stock has a market capitalization of C$69.32 billion, a P/E ratio of -15.91, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. Newmont has a 1-year low of C$39.96 and a 1-year high of C$81.16. The business has a fifty day moving average price of C$57.42 and a 200 day moving average price of C$64.85.

Newmont (TSE:NGT) last released 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 return on equity of 8.09% and a negative net margin of 13.29%. The company had revenue of C$6.28 billion during the quarter, compared to analysts’ expectations of C$5.79 billion. Equities research analysts expect that Newmont will post 5.509887 EPS for the current fiscal year.

Newmont Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th were issued a $0.338 dividend. This represents a $1.35 annualized dividend and a yield of 2.24%. The ex-dividend date was Wednesday, November 27th. Newmont’s payout ratio is currently -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.