Newmont (NGT) Scheduled to Post Quarterly Earnings on Wednesday

Newmont (TSE:NGT) is set to announce its earnings results after the market closes on Wednesday, October 23rd. Analysts expect the company to announce earnings of C$1.02 per share for the quarter.

Newmont (TSE:NGT) last released its earnings results on Wednesday, July 24th. The company reported C$0.99 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of C$6.02 billion during the quarter, compared to analyst estimates of C$4.79 billion.

Newmont Price Performance

NGT opened at C$79.70 on Tuesday. The company has a fifty day moving average price of C$72.15 and a two-hundred day moving average price of C$63.59. The firm has a market capitalization of C$91.66 billion, a PE ratio of -21.03, a P/E/G ratio of 1.43 and a beta of 0.51. Newmont has a 52 week low of C$39.96 and a 52 week high of C$81.11. The company has a debt-to-equity ratio of 31.20, a quick ratio of 1.77 and a current ratio of 2.11.

Newmont Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 5th were given a dividend of $0.342 per share. This represents a $1.37 dividend on an annualized basis and a dividend yield of 1.72%. This is a boost from Newmont’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Thursday, September 5th. Newmont’s dividend payout ratio (DPR) is currently -35.62%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NGT. Scotiabank raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 19th. Argus raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a hold rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Strong Buy” and a consensus price target 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.