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

Shares of Newmont Co. (TSE:NGT) traded up 7.5% 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. 327,401 shares were traded during mid-day trading, an increase of 35% from the average session 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 is an increase from Newmont’s previous quarterly dividend of $0.34. This represents a $1.35 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Monday, June 3rd. Newmont’s payout ratio is currently -33.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. National Bank Financial reissued an “outperform overweight” rating on shares of Newmont in a research report on Monday, April 8th. National Bankshares decreased their price objective on shares of Newmont from C$71.00 to C$69.00 and set an “outperform” rating on the stock in a research report on Friday, April 19th.

Newmont Stock Performance

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

Newmont (TSE:NGT) last posted its 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 business had revenue of C$5.39 billion during the quarter, compared to analysts’ expectations of C$4.37 billion. Newmont had a negative net margin of 21.11% and a negative return on equity of 10.23%. Sell-side analysts expect that Newmont Co. will post 3.4813847 earnings per share for the current fiscal 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.