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

Shares of Newmont Co. (TSE:NGT) have been assigned a consensus rating of “Strong Buy” from the six ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation and five have given a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is C$68.00.

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

Newmont Stock Up 2.7 %

Shares of Newmont stock opened at C$76.73 on Wednesday. Newmont has a 1 year low of C$39.96 and a 1 year high of C$76.93. 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 company has a market capitalization of C$88.24 billion, a P/E ratio of -20.63, a price-to-earnings-growth ratio of 1.24 and a beta of 0.51. The business has a 50-day moving average of C$71.10 and a two-hundred day moving average of C$62.79.

Newmont (TSE:NGT) last announced its earnings results on Wednesday, July 24th. The company reported C$0.99 EPS 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 firm had revenue of C$6.02 billion for the quarter, compared to the consensus estimate of C$4.79 billion. As a group, equities analysts predict that Newmont will post 7.2428147 EPS for the current year.

Newmont Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 5th were paid a dividend of $0.342 per share. This represents a $1.37 dividend on an annualized basis and a dividend yield of 1.78%. This is an increase from Newmont’s previous quarterly dividend of $0.34. The ex-dividend date was Thursday, September 5th. Newmont’s dividend 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.