Newmont Co. (TSE:NGT) – Stock analysts at National Bank Financial reduced their FY2021 earnings estimates for Newmont in a research note issued to investors on Monday, November 22nd. National Bank Financial analyst M. Parkin now expects that the company will earn $3.69 per share for the year, down from their prior estimate of $4.25. National Bank Financial currently has a “Outperform” rating on the stock. National Bank Financial also issued estimates for Newmont’s FY2022 earnings at $4.01 EPS.
A number of other equities research analysts have also issued reports on NGT. National Bankshares decreased their target price on shares of Newmont from C$95.00 to C$92.00 and set an “outperform” rating for the company in a research note on Tuesday. UBS Group cut their target price on shares of Newmont from C$64.00 to C$60.00 and set a “neutral” rating for the company in a research report on Monday, October 25th. Finally, Fundamental Research dropped their price objective on shares of Newmont from C$72.72 to C$66.12 and set a “buy” rating on the stock in a report on Thursday, August 19th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Newmont currently has a consensus rating of “Buy” and a consensus target price of C$83.80.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 28th. Investors of record on Thursday, December 9th will be paid a $0.699 dividend. The ex-dividend date of this dividend is Wednesday, December 8th. This represents a $2.80 dividend on an annualized basis and a yield of 3.98%. This is a boost from Newmont’s previous quarterly dividend of $0.68. Newmont’s payout ratio is presently 84.42%.
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, and Ghana. As of December 31, 2020, it had proven and probable gold reserves of 94.2 million ounces and land position of 58,900 square kilometers.
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