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

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

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

Newmont Price Performance

Shares of TSE NGT opened at C$72.02 on Wednesday. The company has a debt-to-equity ratio of 31.20, a quick ratio of 1.77 and a current ratio of 2.11. The firm has a fifty day moving average of C$70.27 and a 200 day moving average of C$61.66. The firm has a market cap of C$82.82 billion, a PE ratio of -19.36, a PEG ratio of 1.24 and a beta of 0.51. Newmont has a one year low of C$39.96 and a one year high of C$75.64.

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, topping the consensus estimate of C$0.72 by C$0.27. The company had revenue of C$6.02 billion for the quarter, compared to analysts’ expectations of C$4.79 billion. Newmont had a negative net margin of 13.29% and a negative return on equity of 8.09%. As a group, research analysts predict that Newmont will post 7.2428147 EPS for the current fiscal year.

Newmont Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 5th were given a $0.342 dividend. This represents a $1.37 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Thursday, September 5th. This is a positive change from Newmont’s previous quarterly dividend of $0.34. Newmont’s 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.