Newmont Co. Receives Consensus Rating of 'Moderate Buy' from Analysts

On November 3rd, 2024, shares of Newmont Co. (TSE:NGT) were reviewed by six analysts who collectively gave the stock a consensus rating of "Moderate Buy." According to reports from Marketbeat Ratings, out of these analysts, four provided a hold rating while two assigned a strong buy rating to the company. The average target price for Newmont over the next twelve months is C$68.00.

Recent evaluations from various brokerages reflect changes in sentiment towards Newmont's stock. Scotiabank downgraded Newmont from a "strong-buy" to a "hold" rating on October 25th. Similarly, Cibc World Markets reassessed the stock on October 28th with the same downgrade. And on Wednesday of the same week, UBS Group also marked down Newmont from a "strong-buy" to a "hold" rating. In contrast, Argus upgraded Newmont from a "hold" to a "strong-buy" rating on August 29th.

Recent Stock Performance

The trading session for Newmont on Friday began with shares at C$63.15. The company's 50-day moving average stands at C$72.16, while the 200-day moving average is at C$64.51. Financially, Newmont has a current ratio of 2.11, a quick ratio of 1.77, and a remarkably high debt-to-equity ratio of 31.20. With a market capitalization of C$72.62 billion, Newmont's price-to-earnings ratio is -16.66, with a PEG ratio of 1.43 and a beta of 0.51. Over the past year, the stock has fluctuated between a low of C$39.96 and a high of C$81.16.

On October 23rd, Newmont announced its latest earnings results. The company delivered an earnings per share (EPS) of C$1.11 for the quarter, surpassing analysts' expectations of C$1.07 by C$0.04. Despite this positive earnings outcome, Newmont noted a negative return on equity of 8.09% and a negative net margin of 13.29%. The revenue reported for the quarter was C$6.28 billion, exceeding anticipations of C$5.79 billion. Analysts project that Newmont will achieve an EPS of 5.509887 for the current fiscal year.

Dividend Announcement

In related company news, Newmont has declared a quarterly dividend to be disbursed on December 23rd. Stockholders who are on the record by November 27th will receive a dividend payment of $0.338, marking an annualized dividend of $1.35 and a yield of 2.14%. The ex-dividend date is also set for November 27th, with Newmont currently maintaining a payout ratio of -35.62%.

About Newmont Corporation

Newmont Corporation is engaged primarily in gold production and exploration. In addition to gold, the company is also involved in the exploration of copper, silver, zinc, and lead. Newmont's operations and assets are spread across several countries, including the United States, Canada, Mexico, the Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.

Newmont, Analysts, Stocks