Newmont Co. (TSE:NGT) Receives Consensus Rating of 'Moderate Buy'

On November 3, 2024, Newmont Co. (TSE:NGT) was issued a consensus recommendation of "Moderate Buy" by six analysts covering the stock, according to Marketbeat Ratings. Among these analysts, four have assigned a hold rating while two have rated the company as a strong buy. The average target price projected for the stock over the next twelve months stands at C$68.00.

Several brokerages have recently updated their stances on Newmont. On October 25th, Scotiabank downgraded their recommendation from a "strong-buy" to a "hold". Similarly, Cibc World Markets made the same downgrade on October 28th, followed by UBS Group on the following Wednesday. However, on August 29th, Argus raised their recommendation from a hold to a strong buy.

Recent Performance of Newmont Stock

As of Friday, Newmont shares opened at C$63.15. The stock shows a 50-day moving average price of C$72.16 and a 200-day moving average price of C$64.51. Financial ratios indicate a current ratio of 2.11, a quick ratio of 1.77, and a debt-to-equity ratio of 31.20. The overall market capitalization of Newmont is C$72.62 billion, with a price-to-earnings ratio of -16.66 and a PEG ratio of 1.43. The stock has recorded a 12-month low of C$39.96 and a 12-month high of C$81.16.

On October 23rd, Newmont reported its earnings results, posting an EPS of C$1.11 for the quarter, exceeding the analysts' estimated EPS of C$1.07 by C$0.04. The company experienced a negative return on equity of 8.09% and a negative net margin of 13.29%. The reported revenue for the quarter was C$6.28 billion, outperforming the analysts' expectations of C$5.79 billion. Analysts predict that Newmont will report an EPS of approximately 5.51 for the current year.

Dividend Announcement

Recently, Newmont also revealed plans for a quarterly dividend payment scheduled for December 23rd. Shareholders who are on record by November 27th will receive a dividend of $0.338. This will amount to an annualized dividend of $1.35, reflecting a yield of 2.14%. The ex-dividend date for this upcoming dividend is November 27th. Currently, Newmont’s dividend payout ratio stands at -35.62%.

Company Overview

Newmont Corporation specializes in gold production and exploration, with additional exploration for copper, silver, zinc, and lead. The corporation operates and has assets across various countries, including the United States, Canada, Mexico, the Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.

Newmont, Stock, Buy