Newmont (TSE:NGT) Trading 7.5% Higher After Dividend Announcement

Newmont Co. (TSE:NGT)’s stock price was up 7.5% during trading on Thursday following a dividend announcement from the company. The company traded as high as C$56.93 and last traded at C$56.84. Approximately 327,401 shares traded hands during mid-day trading, an increase of 35% from the average daily volume of 243,055 shares. The stock had previously closed at C$52.87.

The newly announced dividend which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be issued a dividend of $0.338 per share. This represents a $1.35 dividend on an annualized basis and a dividend yield of 2.32%. This is a positive change from Newmont’s previous quarterly dividend of $0.34. The ex-dividend date is Monday, June 3rd. Newmont’s dividend payout ratio (DPR) is presently -33.09%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on NGT shares. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Newmont in a research note on Monday, April 8th. National Bankshares reduced their price target on Newmont from C$71.00 to C$69.00 and set an “outperform” rating for the company in a research report on Friday, April 19th.

Newmont Trading Down 1.5 %

The company has a market cap of C$67.14 billion, a P/E ratio of -14.20, a P/E/G ratio of 0.78 and a beta of 0.54. The business’s 50-day moving average price is C$48.30 and its 200 day moving average price is C$50.11. The company has a debt-to-equity ratio of 32.67, a quick ratio of 1.77 and a current ratio of 1.25.

Newmont (TSE:NGT) last posted its quarterly earnings results on Thursday, February 22nd. The company reported C$0.68 EPS for the quarter, missing analysts’ consensus estimates of C$0.70 by C($0.02). The business had revenue of C$5.39 billion for the quarter, compared to the consensus estimate of C$4.37 billion. Newmont had a negative return on equity of 10.23% and a negative net margin of 21.11%. As a group, analysts expect that Newmont Co. will post 3.4813847 earnings per share for the current year.

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.