Newmont (TSE:NGT) Reaches New 52-Week High – What’s Next?

Newmont Co. (TSE:NGT)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$75.94 and last traded at C$75.83, with a volume of 16837 shares traded. The stock had previously closed at C$74.74.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NGT. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Scotiabank upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 19th. BNP Paribas upgraded shares of Newmont to a “strong-buy” rating in a research note on Friday, June 21st. Finally, Argus upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. One research analyst has rated the stock with a hold rating and five have given a strong buy rating to the company. According to data from MarketBeat, Newmont has a consensus rating of “Strong Buy” and a consensus target price of C$68.00.

Newmont Price Performance

The stock’s 50 day moving average is C$71.37 and its two-hundred day moving average is C$62.89. The company has a debt-to-equity ratio of 31.20, a current ratio of 2.11 and a quick ratio of 1.77. The stock has a market capitalization of C$88.96 billion, a PE ratio of -20.41, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51.

Newmont (TSE:NGT) last announced its quarterly earnings results on Wednesday, July 24th. The company reported C$0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.72 by C$0.27. The firm had revenue of C$6.02 billion during the quarter, compared to the consensus estimate 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, sell-side analysts forecast that Newmont Co. will post 5.509887 earnings per share for the current fiscal year.

Newmont Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 5th were issued a $0.342 dividend. This represents a $1.37 dividend on an annualized basis and a yield of 1.77%. This is an increase 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 is -35.62%.

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.