Brokerages Set Newmont Co. (TSE:NGT) PT at C$68.00

Shares of Newmont Co. (TSE:NGT) have been given a consensus recommendation of “Strong Buy” by the six brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and five have assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is C$68.00.

A number of analysts have 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. BNP Paribas raised Newmont to a “strong-buy” rating in a report on Friday, June 21st. Scotiabank raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 19th. Finally, Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th.

Newmont Price Performance

Shares of NGT opened at C$76.73 on Wednesday. The company has a current ratio of 2.11, a quick ratio of 1.77 and a debt-to-equity ratio of 31.20. The company’s fifty day simple moving average is C$71.10 and its 200 day simple moving average is C$62.79. Newmont has a 1-year low of C$39.96 and a 1-year high of C$76.93. The company has a market cap of C$88.24 billion, a price-to-earnings ratio of -20.63, a PEG ratio of 1.24 and a beta of 0.51.

Newmont (TSE:NGT) last released its quarterly earnings data on Wednesday, July 24th. The company reported C$0.99 earnings per share for the quarter, topping the consensus estimate of C$0.72 by C$0.27. Newmont had a negative net margin of 13.29% and a negative return on equity of 8.09%. The company had revenue of C$6.02 billion for the quarter, compared to analyst estimates of C$4.79 billion. On average, research analysts forecast 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. Investors of record on Thursday, September 5th were issued a dividend of $0.342 per share. This is a boost from Newmont’s previous quarterly dividend of $0.34. This represents a $1.37 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend was Thursday, September 5th. Newmont’s dividend payout ratio (DPR) is presently -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.