Scotiabank upgraded shares of Newmont (TSE:NGT – Free Report) from a hold rating to a strong-buy rating in a research report released on Monday morning, Zacks.com reports.
Other equities research analysts have also recently issued reports about the stock. BNP Paribas raised shares of Newmont to a strong-buy rating in a report on Friday, June 21st. UBS Group upgraded shares of Newmont from a hold rating to a strong-buy rating in a research report on Monday, June 17th. National Bankshares raised their target price on Newmont from C$67.00 to C$68.00 and gave the company a sector perform rating in a report on Monday, June 10th. National Bank Financial lowered shares of Newmont from an outperform overweight rating to a sector perform overweight rating in a report on Tuesday, April 30th. Finally, Cibc World Mkts raised Newmont from a hold rating to a strong-buy rating in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a hold rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Strong Buy and a consensus price target of C$68.00.
Read Our Latest Stock Report on NGT
Newmont Price Performance
Newmont (TSE:NGT – Get Free Report) last announced its 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 firm had revenue of C$6.02 billion during the quarter, compared to analyst estimates of C$4.79 billion. Newmont had a negative net margin of 13.29% and a negative return on equity of 8.09%. As a group, analysts anticipate that Newmont will post 5.7208333 earnings per share for the current year.
Newmont Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be given a dividend of $0.342 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.37 annualized dividend and a yield of 1.94%. This is a positive change from Newmont’s previous quarterly dividend of $0.34. Newmont’s dividend payout ratio is presently -36.60%.
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.
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