Newmont Co. (TSE:NGT) Receives 'Moderate Buy' Consensus from Analysts

Newmont Co. (TSE:NGT) has recently been assessed by six analysts, who have collectively given the company a consensus rating of "Moderate Buy." According to reports from Marketbeat Ratings, this rating comprises four analysts recommending a hold position on the stock and two analysts endorsing it as a strong buy. The average 12-month target price put forward by these brokerages is C$68.00.

Several firms have recently shared their insights regarding Newmont's stock. Scotiabank updated its rating, dropping it from "strong-buy" to "hold" in a report issued on October 25th. Similarly, Cibc World Markets also lowered their rating from "strong-buy" to "hold" on October 28th. On the following Wednesday, UBS Group made the same downgrade. However, earlier in the year on August 29th, Argus had actually upgraded Newmont’s rating from "hold" to "strong-buy" in an earlier research note.

Current Stock Performance

On Friday, shares of Newmont Co. opened at C$63.15. The stock has shown a 50-day moving average of C$72.16 and a 200-day moving average at C$64.51. Financial metrics indicate a current ratio of 2.11 and a quick ratio of 1.77. The debt-to-equity ratio is notable at 31.20, while Newmont boasts a market capitalization of C$72.62 billion. The company reported a price-to-earnings ratio of -16.66 and a PEG ratio of 1.43, with a beta value of 0.51. The stock's 12-month low stands at C$39.96, and its 12-month high at C$81.16.

Earnings Details

Newmont Corporation last disclosed its earnings results on October 23rd. It reported earnings per share (EPS) of C$1.11 for the quarter, surpassing the analysts’ expectations of C$1.07 by C$0.04. Despite delivering strong revenue, the company reported a negative return on equity of 8.09% along with a negative net margin of 13.29%. The quarter yielded revenue of C$6.28 billion, exceeding the anticipated figure of C$5.79 billion. Analysts predict that Newmont will achieve an EPS of approximately 5.51 for the current fiscal year.

Dividend Declaration

In a recent update, Newmont announced its quarterly dividend, which is set to be paid on December 23rd. Shareholders of record by November 27th are expected to receive a dividend of $0.338, translating into an annualized dividend of $1.35 and a dividend yield of 2.14%. Notably, the ex-dividend date coincides with November 27th. At present, the company’s payout ratio is reported at -35.62%.

Company Overview

Newmont Corporation specializes in the exploration and production of gold, alongside ventures in copper, silver, zinc, and lead. The company has a strong presence with operations and assets in various countries, including the United States, Canada, Mexico, the Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.

Newmont, Analysis, Stocks