Newmont Co. (TSE:NGT) Raises Dividend to $0.34 Per Share

Newmont Co. (TSE:NGT) declared a quarterly dividend on Wednesday, July 24th, Zacks reports. Shareholders of record on Thursday, September 5th will be given a dividend of 0.342 per share on Monday, September 30th. This represents a $1.37 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Thursday, September 5th. This is an increase from Newmont’s previous quarterly dividend of $0.34.

Newmont Price Performance

Shares of Newmont stock opened at C$70.77 on Wednesday. Newmont has a 12 month low of C$39.96 and a 12 month high of C$72.65. The company has a debt-to-equity ratio of 31.20, a current ratio of 2.11 and a quick ratio of 1.77. The business has a 50 day simple moving average of C$65.50 and a two-hundred day simple moving average of C$57.02. The stock has a market capitalization of C$81.39 billion, a P/E ratio of -19.08, a PEG ratio of 1.24 and a beta of 0.49.

Newmont (TSE:NGT) last released its quarterly earnings results on Wednesday, July 24th. The company reported C$0.99 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.72 by C$0.27. The business had revenue of C$6.02 billion during the quarter, compared to analysts’ expectations of C$4.79 billion. Newmont had a negative return on equity of 8.09% and a negative net margin of 13.29%. As a group, analysts predict that Newmont will post 5.5945513 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NGT. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. National Bankshares raised their price target on Newmont from C$67.00 to C$68.00 and gave the stock a “sector perform” rating in a report on Monday, June 10th. Argus raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 29th. Scotiabank raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Monday, August 19th. Finally, BNP Paribas upgraded Newmont to a “strong-buy” rating in a report on Friday, June 21st. One analyst has rated the stock with a hold rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Strong Buy” and a consensus target price of C$68.00.

Newmont Company Profile

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.