Newmont Co. (TSE:NGT – Get Free Report)’s share price reached a new 52-week high on Tuesday . The stock traded as high as C$70.96 and last traded at C$70.75, with a volume of 23912 shares. The stock had previously closed at C$69.87.
Analysts Set New Price Targets
A number of research firms have recently weighed in on NGT. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Scotiabank raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Monday. National Bankshares raised their price target on shares of Newmont from C$67.00 to C$68.00 and gave the stock a “sector perform” rating in a research note on Monday, June 10th. BNP Paribas upgraded shares of Newmont to a “strong-buy” rating in a report on Friday, June 21st. Finally, National Bank Financial downgraded shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Tuesday, April 30th. One investment analyst has rated the stock with a hold rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Strong Buy” and an average target price of C$68.00.
Check Out Our Latest Stock Report on Newmont
Newmont Price Performance
Newmont (TSE:NGT – Get Free Report) last announced its quarterly earnings data 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. Newmont had a negative net margin of 13.29% and a negative return on equity of 8.09%. The business had revenue of C$6.02 billion for the quarter, compared to analyst estimates of C$4.79 billion. Sell-side analysts predict that Newmont Co. will post 5.7208333 EPS for the current fiscal year.
Newmont Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 5th will be issued a $0.342 dividend. This represents a $1.37 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Thursday, September 5th. This is a positive change from Newmont’s previous quarterly dividend of $0.34. Newmont’s dividend payout ratio (DPR) is -36.60%.
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.
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