Newmont (TSE:NGT) Raised to “Strong-Buy” at Argus

Argus upgraded shares of Newmont (TSE:NGT) from a hold rating to a strong-buy rating in a report published on Thursday, Zacks.com reports.

NGT has been the subject of several other research reports. National Bankshares lifted 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 research report on Monday, June 10th. BNP Paribas raised shares of Newmont to a strong-buy rating in a research note on Friday, June 21st. UBS Group upgraded shares of Newmont from a hold rating to a strong-buy rating in a report on Monday, June 17th. Cibc World Mkts raised shares of Newmont from a hold rating to a strong-buy rating in a report on Wednesday, July 10th. Finally, Scotiabank upgraded Newmont from a hold rating to a strong-buy rating in a report on Monday, August 19th. One analyst has rated the stock with a hold rating and five have given a strong buy rating to the company. According to MarketBeat.com, Newmont has an average rating of Strong Buy and a consensus price target of C$68.00.

Newmont Trading Up 2.7 %

NGT opened at C$71.71 on Thursday. The company has a current ratio of 2.11, a quick ratio of 1.77 and a debt-to-equity ratio of 31.20. The stock has a market capitalization of C$82.47 billion, a PE ratio of -19.33, a PEG ratio of 1.24 and a beta of 0.49. The firm has a 50-day moving average price of C$64.41 and a two-hundred day moving average price of C$56.17. Newmont has a 1-year low of C$39.96 and a 1-year high of C$71.97.

Newmont (TSE:NGT) last announced its quarterly earnings data on Wednesday, July 24th. The company reported C$0.99 EPS for the quarter, beating analysts’ consensus estimates of C$0.72 by C$0.27. The firm had revenue of C$6.02 billion for the quarter, compared to analyst estimates of C$4.79 billion. Newmont had a negative return on equity of 8.09% and a negative net margin of 13.29%. As a group, equities analysts anticipate that Newmont will post 5.5945513 earnings per share for the current fiscal year.

Newmont Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 5th will be given a dividend of $0.342 per share. This is a positive change from Newmont’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.37 annualized dividend and a dividend yield of 1.91%. Newmont’s payout ratio is -37.20%.

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.