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 paid a dividend of 0.342 per share on Monday, September 30th. This represents a $1.37 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Thursday, September 5th. This is a boost from Newmont’s previous quarterly dividend of $0.34.

Newmont Stock Performance

Shares of NGT stock opened at C$71.94 on Tuesday. 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 firm has a market capitalization of C$82.73 billion, a P/E ratio of -19.39, a P/E/G ratio of 1.24 and a beta of 0.49. The company’s fifty day moving average price is C$65.23 and its two-hundred day moving average price is C$56.84.

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

Wall Street Analyst Weigh In

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