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 morning, Zacks.com reports.

NGT has been the topic of several other research reports. National Bank Financial lowered shares of Newmont from an outperform overweight rating to a sector perform overweight rating in a report on Tuesday, April 30th. BNP Paribas raised shares of Newmont to a strong-buy rating in a report on Friday, June 21st. UBS Group raised shares of Newmont from a hold rating to a strong-buy rating in a report on Monday, June 17th. Finally, National Bankshares raised their price target on shares of Newmont from C$67.00 to C$68.00 and gave the stock a sector perform rating in a report on Monday, June 10th. Two research analysts have rated the stock with a hold rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Buy and an average target price of C$59.00.

Newmont Price Performance

NGT stock opened at C$64.78 on Wednesday. The company has a debt-to-equity ratio of 32.56, a quick ratio of 1.77 and a current ratio of 2.15. Newmont has a 52 week low of C$39.96 and a 52 week high of C$65.43. The firm’s fifty day moving average is C$58.00 and its 200 day moving average is C$52.07. The firm has a market cap of C$74.50 billion, a P/E ratio of -14.49, a P/E/G ratio of 0.78 and a beta of 0.49.

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

Newmont Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Tuesday, June 4th were issued a $0.338 dividend. This represents a $1.35 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date was Tuesday, June 4th. This is a positive change from Newmont’s previous quarterly dividend of $0.34. Newmont’s dividend payout ratio (DPR) is -30.65%.

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.