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 paid 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 of this dividend is Thursday, September 5th. This is an increase from Newmont’s previous quarterly dividend of $0.34.

Newmont Price Performance

Newmont stock opened at C$63.22 on Friday. The company has a current ratio of 2.15, a quick ratio of 1.77 and a debt-to-equity ratio of 32.56. The company has a 50-day moving average price of C$59.31 and a 200 day moving average price of C$52.72. Newmont has a 12-month low of C$39.96 and a 12-month high of C$66.91. The stock has a market cap of C$72.70 billion, a P/E ratio of -14.14, a PEG ratio of 0.78 and a beta of 0.49.

Newmont (TSE:NGT) last announced its quarterly earnings results on Thursday, April 25th. The company reported C$0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.48 by C$0.26. The business 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%. Sell-side analysts anticipate that Newmont will post 4.5226562 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on NGT shares. BNP Paribas upgraded Newmont to a “strong-buy” rating in a research report on Friday, June 21st. National Bank Financial cut Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a report on Tuesday, April 30th. UBS Group upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Monday, June 17th. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Finally, National Bankshares lifted their price target on shares of Newmont from C$67.00 to C$68.00 and gave the company a “sector perform” rating in a research report on Monday, June 10th. One equities research analyst has rated the stock with a hold rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Newmont presently has an average 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.