National Bankshares cut shares of Newmont (TSE:NGT – Free Report) from an outperform rating to a sector perform rating in a research note released on Wednesday, BayStreet.CA reports. National Bankshares currently has C$68.00 target price on the stock, down from their prior target price of C$69.00.
Separately, National Bank Financial reissued an outperform overweight rating on shares of Newmont in a research note on Monday, April 8th.
View Our Latest Report on Newmont
Newmont Price Performance
Newmont (TSE:NGT – Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The company reported C$0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.70 by C($0.02). Newmont had a negative return on equity of 10.23% and a negative net margin of 21.11%. The business had revenue of C$5.39 billion for the quarter, compared to the consensus estimate of C$4.37 billion. As a group, sell-side analysts predict that Newmont will post 3.4813847 earnings per share for the current year.
Newmont Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th will be given a dividend of $0.338 per share. The ex-dividend date is Tuesday, June 4th. This is a positive change from Newmont’s previous quarterly dividend of $0.34. This represents a $1.35 dividend on an annualized basis and a yield of 2.42%. Newmont’s payout ratio is -33.09%.
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.
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