Newmont (TSE:NGT) Upgraded at Cibc World Mkts

Cibc World Mkts upgraded shares of Newmont (TSE:NGT) from a hold rating to a strong-buy rating in a report released on Wednesday, Zacks.com reports.

A number of other equities analysts have also weighed in on NGT. UBS Group raised shares of Newmont from a hold rating to a strong-buy rating in a research note on Monday, June 17th. National Bank Financial downgraded shares of Newmont from an outperform overweight rating to a sector perform overweight rating in a research note on Tuesday, April 30th. National Bankshares increased their price objective on shares of Newmont from C$67.00 to C$68.00 and gave the stock a sector perform rating in a research note on Monday, June 10th. Finally, BNP Paribas upgraded shares of Newmont to a strong-buy rating in a research note on Friday, June 21st. Two investment analysts have rated the stock with a hold rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Buy and an average target price of C$59.00.

Newmont Price Performance

Shares of TSE NGT opened at C$64.78 on Wednesday. The firm has a market cap of C$74.50 billion, a PE ratio of -14.49, a PEG ratio of 0.78 and a beta of 0.49. The company has a current ratio of 2.15, a quick ratio of 1.77 and a debt-to-equity ratio of 32.56. Newmont has a 1-year low of C$39.96 and a 1-year high of C$65.43. The company has a fifty day moving average price of C$58.00 and a 200 day moving average price of C$52.07.

Newmont (TSE:NGT) last announced its earnings results on Thursday, April 25th. The company reported C$0.74 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.48 by C$0.26. The firm had revenue of C$5.42 billion during the quarter, compared to analyst estimates of C$4.59 billion. Newmont had a negative net margin of 20.33% and a negative return on equity of 10.98%. Research analysts predict that Newmont will post 4.5226562 earnings per share for the current fiscal year.

Newmont Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th were paid a dividend of $0.338 per share. This represents a $1.35 dividend on an annualized basis and a dividend yield of 2.09%. This is an increase from Newmont’s previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, June 4th. Newmont’s dividend payout ratio is currently -30.65%.

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.