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

Shares of Newmont Co. (TSE:NGT) have earned an average rating of “Strong Buy” from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and five have issued a strong buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is C$68.00.

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

Newmont Trading Up 1.8 %

Shares of NGT opened at C$74.74 on Wednesday. The company has a debt-to-equity ratio of 31.20, a current ratio of 2.11 and a quick ratio of 1.77. Newmont has a 1 year low of C$39.96 and a 1 year high of C$75.64. The company has a 50 day simple moving average of C$70.73 and a two-hundred day simple moving average of C$62.41. The firm has a market cap of C$85.95 billion, a P/E ratio of -20.09, a price-to-earnings-growth ratio of 1.24 and a beta of 0.51.

Newmont (TSE:NGT) last released its earnings results on Wednesday, July 24th. The company reported C$0.99 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.72 by C$0.27. Newmont had a negative return on equity of 8.09% and a negative net margin of 13.29%. The business had revenue of C$6.02 billion for the quarter, compared to analyst estimates of C$4.79 billion. On average, equities analysts expect that Newmont will post 7.2428147 earnings per share for the current fiscal year.

Newmont Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 5th were paid a dividend of $0.342 per share. The ex-dividend date was Thursday, September 5th. This is a positive change from Newmont’s previous quarterly dividend of $0.34. This represents a $1.37 annualized dividend and a yield of 1.83%. Newmont’s dividend payout ratio is currently -36.29%.

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.