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

Shares of Newmont Co. (TSE:NGT) have received a consensus recommendation of “Strong Buy” from the six research firms that are covering the company, MarketBeat reports. One investment 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 brokerages that have covered the stock in the last year is C$68.00.

A number of brokerages have issued reports on NGT. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. National Bankshares upped their price objective on Newmont from C$67.00 to C$68.00 and gave the company a “sector perform” rating in a research note on Monday, June 10th. Scotiabank upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 19th. Argus upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. Finally, BNP Paribas upgraded shares of Newmont to a “strong-buy” rating in a report on Friday, June 21st.

Newmont Price Performance

Shares of TSE NGT opened at C$72.29 on Friday. The business’s 50 day moving average is C$68.12 and its 200-day moving average is C$59.07. The firm has a market cap of C$83.13 billion, a P/E ratio of -19.43, a price-to-earnings-growth ratio of 1.24 and a beta of 0.51. Newmont has a 1-year low of C$39.96 and a 1-year high of C$74.47. The company has a current ratio of 2.11, a quick ratio of 1.77 and a debt-to-equity ratio of 31.20.

Newmont (TSE:NGT) last released its quarterly earnings results on Wednesday, July 24th. The company reported C$0.99 EPS for the quarter, beating 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 business had revenue of C$6.02 billion for the quarter, compared to the consensus estimate of C$4.79 billion. Equities research analysts predict that Newmont will post 6.8487562 earnings per share for the current year.

Newmont Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.342 per share. This is an increase from Newmont’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.37 annualized dividend and a dividend yield of 1.89%. Newmont’s payout ratio is currently -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.