Newmont (TSE:NGT) Sets New 12-Month High - Should You Buy?

Newmont Co. (TSE:NGT - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as C$80.91 and last traded at C$80.60, with a volume of 13800 shares changing hands. The stock had previously closed at C$79.54.

Analyst Ratings Changes

NGT has been the subject of several research analyst reports. Cibc World Mkts raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 10th. Scotiabank raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 19th. Finally, Argus raised Newmont from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 29th. One investment analyst has rated the stock with a hold rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Strong Buy" and a consensus target price of C$68.00.

Newmont Price Performance

The stock's 50 day simple moving average is C$72.15 and its 200-day simple moving average is C$63.59. 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 company has a market capitalization of C$91.66 billion, a PE ratio of -21.03, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51.

Newmont (TSE:NGT - Get Free Report) last announced its earnings results on Wednesday, July 24th. The company reported C$0.99 earnings per share for the quarter, topping the consensus estimate of C$0.72 by C$0.27. Newmont had a negative net margin of 13.29% and a negative return on equity of 8.09%. The firm had revenue of C$6.02 billion for the quarter, compared to the consensus estimate of C$4.79 billion. As a group, equities analysts forecast that Newmont Co. will post 5.509887 earnings per share for the current fiscal year.

Newmont Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 5th were issued a $0.342 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This is a positive change from Newmont's previous quarterly dividend of $0.34. This represents a $1.37 dividend on an annualized basis and a yield of 1.72%. Newmont's dividend payout ratio (DPR) is -35.62%.

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.