Newmont (TSE:NGT) Lifted to “Strong-Buy” at UBS Group

UBS Group upgraded shares of Newmont (TSE:NGT) from a hold rating to a strong-buy rating in a research note published on Monday, Zacks.com reports.

A number of other brokerages also recently issued reports on NGT. National Bank Financial downgraded Newmont from an outperform overweight rating to a sector perform overweight rating in a research note on Tuesday, April 30th. National Bankshares raised their price objective on 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.

Newmont Trading Down 1.0 %

Shares of NGT stock opened at C$56.68 on Monday. The stock’s fifty day moving average is C$56.40 and its two-hundred day moving average is C$51.48. The company has a debt-to-equity ratio of 32.56, a quick ratio of 1.77 and a current ratio of 2.15. The firm has a market capitalization of C$65.18 billion, a P/E ratio of -12.68, a PEG ratio of 0.78 and a beta of 0.49. Newmont has a fifty-two week low of C$39.96 and a fifty-two week high of C$60.50.

Newmont (TSE:NGT) last announced its quarterly earnings data on Thursday, April 25th. The company reported C$0.74 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.48 by C$0.26. The company had revenue of C$5.42 billion for the quarter, compared to analyst estimates of C$4.59 billion. Newmont had a negative return on equity of 10.98% and a negative net margin of 20.33%. Research analysts expect 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 will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be given a dividend of $0.338 per share. This represents a $1.35 dividend on an annualized basis and a dividend yield of 2.39%. This is an increase from Newmont’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont’s dividend payout ratio (DPR) is presently -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.