Newmont (TSE:NGT) Downgraded by National Bank Financial to “Sector Perform Overweight”

National Bank Financial lowered shares of Newmont (TSE:NGT) from an outperform overweight rating to a sector perform overweight rating in a report issued on Tuesday morning, Zacks.com reports.

Separately, National Bankshares cut shares of Newmont from an outperform rating to a sector perform rating and cut their price target for the stock from C$69.00 to C$68.00 in a research note on Wednesday.

Newmont Stock Down 0.2 %

Shares of TSE NGT opened at C$55.88 on Tuesday. The company has a quick ratio of 1.77, a current ratio of 1.25 and a debt-to-equity ratio of 32.67. The company has a market cap of C$64.26 billion, a P/E ratio of -13.60, a P/E/G ratio of 0.78 and a beta of 0.54. Newmont has a 52 week low of C$39.96 and a 52 week high of C$68.15. The business has a 50-day simple moving average of C$49.00 and a two-hundred day simple moving average of C$50.16.

Newmont (TSE:NGT) last posted its earnings results on Thursday, February 22nd. The company reported C$0.68 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.70 by C($0.02). Newmont had a negative return on equity of 10.23% and a negative net margin of 21.11%. The firm had revenue of C$5.39 billion for the quarter, compared to the consensus estimate of C$4.37 billion. Research analysts anticipate that Newmont will post 3.4813847 earnings per share for the current fiscal year.

Newmont Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be issued a dividend of $0.338 per share. This is a positive change from Newmont’s previous quarterly dividend of $0.34. This represents a $1.35 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont’s dividend payout ratio is currently -33.09%.

About Newmont

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.