Newmont Co. (TSE:NGT) Announces Dividend Increase – $0.34 Per Share

Newmont Co. (TSE:NGT) declared a quarterly dividend on Wednesday, July 24th, Zacks reports. Stockholders 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 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Thursday, September 5th. This is a boost from Newmont’s previous quarterly dividend of $0.34.

Newmont Stock Down 4.0 %

Shares of Newmont stock opened at C$63.22 on Friday. The firm has a market cap of C$72.70 billion, a PE ratio of -14.14, a P/E/G ratio of 0.78 and a beta of 0.49. The business’s 50 day simple moving average is C$59.31 and its 200 day simple moving average is C$52.72. The company has a debt-to-equity ratio of 32.56, a quick ratio of 1.77 and a current ratio of 2.15. Newmont has a 52-week low of C$39.96 and a 52-week high of C$66.91.

Newmont (TSE:NGT) last announced its quarterly earnings data on Thursday, April 25th. The company reported C$0.74 EPS for the quarter, beating analysts’ consensus estimates of C$0.48 by C$0.26. The company had revenue of C$5.42 billion during the quarter, compared to the consensus estimate of C$4.59 billion. Newmont had a negative net margin of 20.33% and a negative return on equity of 10.98%. On average, analysts predict that Newmont will post 4.5226562 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. National Bankshares lifted 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. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. National Bank Financial cut Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Tuesday, April 30th. UBS Group raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 17th. Finally, BNP Paribas raised shares of Newmont to a “strong-buy” rating in a research report on Friday, June 21st. One investment analyst has rated the stock with a hold rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Strong Buy” and an average target price of C$68.00.

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.