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

Newmont Co. (TSE:NGT)’s share price rose 7.5% during trading on Thursday following a dividend announcement from the company. The stock traded as high as C$56.93 and last traded at C$56.84. Approximately 327,401 shares were traded 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. Shareholders of record on Tuesday, June 4th will be paid a dividend of $0.338 per share. This represents a $1.35 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Monday, June 3rd. This is a positive change from Newmont’s previous quarterly dividend of $0.34. Newmont’s dividend payout ratio (DPR) is -33.09%.

Wall Street Analyst Weigh In

NGT has been the subject of a number of recent analyst reports. National Bank Financial reiterated an “outperform overweight” rating on shares of Newmont in a research report on Monday, April 8th. National Bankshares cut their price objective on shares of 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 firm’s 50-day simple moving average is C$48.30 and its 200 day simple moving average is C$50.11. The company has a debt-to-equity ratio of 32.67, a current ratio of 1.25 and a quick ratio of 1.77. The firm has a market capitalization of C$67.14 billion, a price-to-earnings ratio of -14.20, a P/E/G ratio of 0.78 and a beta of 0.54.

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

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.