Newmont (TSE:NGT) Reaches New 52-Week High at $70.96

Newmont Co. (TSE:NGT)’s stock price hit a new 52-week high on Tuesday . The company 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.

Analyst Upgrades and Downgrades

NGT has been the topic of several research analyst reports. 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. Scotiabank upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Monday. UBS Group upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Monday, June 17th. National Bankshares increased their price objective 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. Finally, Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. One investment analyst has rated the stock with a hold rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Strong Buy” and an average price target of C$68.00.

Newmont Stock Performance

The company has a market cap of C$80.74 billion, a PE ratio of -18.53, a PEG ratio of 1.24 and a beta of 0.49. The company has a 50-day moving average of C$62.45 and a 200-day moving average of C$55.00. The company has a quick ratio of 1.77, a current ratio of 2.11 and a debt-to-equity ratio of 31.20.

Newmont (TSE:NGT) last issued its quarterly earnings data on Wednesday, July 24th. The company reported C$0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.72 by C$0.27. The business had revenue of C$6.02 billion for the quarter, compared to analysts’ expectations of C$4.79 billion. Newmont had a negative return on equity of 8.09% and a negative net margin of 13.29%. As a group, analysts anticipate that Newmont Co. will post 5.7208333 earnings per share for the current year.

Newmont Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.342 per share. This is a boost from Newmont’s previous quarterly dividend of $0.34. The ex-dividend date is Thursday, September 5th. This represents a $1.37 dividend on an annualized basis and a dividend yield of 1.95%. 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.