Sat Nov 30 23:44:21 UTC 2024: **Newmont (NGT) Receives Moderate Buy Rating Despite Analyst Divergence**

**Toronto, Canada** – Newmont Corporation (TSE:NGT), a leading gold producer, has received a consensus rating of “Moderate Buy” from six research firms, according to Marketbeat Ratings. This rating is based on four “hold” ratings and two “strong buy” ratings. The average 12-month price target is C$68.00.

Recent analyst activity has been mixed. CIBC World Markets and UBS Group downgraded Newmont from “strong buy” to “hold” in late October, while Argus upgraded it from “hold” to “strong buy” in August. Scotiabank also issued a downgrade to “hold” in late October.

Despite the analyst divergence, Newmont’s shares traded up C$0.10 to C$58.98 on Thursday, though volume was lower than average. The company reported strong Q3 earnings, exceeding expectations with C$1.11 earnings per share (EPS) compared to the estimated C$1.07. Revenue also beat estimates at C$6.28 billion versus C$5.79 billion. However, Newmont reported negative return on equity and net margin. Analysts project EPS of 5.509887 for the current year.

The company declared a quarterly dividend of $0.338 per share, payable on December 23rd to investors of record on November 27th. This represents an annualized dividend of $1.35 and a yield of 2.29%.

Newmont operates globally, with assets across North and South America, Australia, and other regions. While holding a Moderate Buy rating, Marketbeat suggests other stocks may be more promising based on their analysis of top-performing analysts.

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