Newmont (NGT) Set to Announce Earnings on Wednesday

Newmont (TSE:NGT) is scheduled to be posting its quarterly earnings results after the market closes on Wednesday, October 23rd. Analysts expect Newmont to post earnings of C$1.02 per share for the quarter.

Newmont (TSE:NGT) last released its quarterly earnings data on Wednesday, July 24th. The company reported C$0.99 earnings per share for the quarter, beating the consensus estimate of C$0.72 by C$0.27. The business had revenue of C$6.02 billion for the quarter, compared to analyst estimates of C$4.79 billion. Newmont had a negative return on equity of 8.09% and a negative net margin of 13.29%.

Newmont Stock Up 2.0 %

NGT opened at C$79.54 on Monday. Newmont has a 1 year low of C$39.96 and a 1 year high of C$80.03. The firm has a 50 day moving average price of C$71.90 and a 200 day moving average price of C$63.39. The company has a debt-to-equity ratio of 31.20, a quick ratio of 1.77 and a current ratio of 2.11. The company has a market cap of C$91.47 billion, a PE ratio of -20.99, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51.

Newmont Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 5th were given a $0.342 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $1.37 annualized dividend and a dividend yield of 1.72%. This is a positive change from Newmont’s previous quarterly dividend of $0.34. Newmont’s dividend payout ratio is presently -35.62%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Argus raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Scotiabank upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Monday, August 19th. One equities research analyst has rated the stock with a hold rating and five have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Strong Buy” and a consensus target price of C$68.00.

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.