Mining spurs Toromont

Article Excerpt

TOROMONT INDUSTRIES $44.56 (Toronto symbol TIH; TSINetwork Rating: Extra Risk) (416-667-5511; www.toromont.com; Shares outstanding: 78.3 million; Market cap: $3.5 billion; Dividend yield: 1.7%) distributes a broad range of industrial equipment, including machinery made by Caterpillar Inc. It also makes refrigeration systems through its CIMCO division. In the three months ended June 30, 2017, the company’s revenue rose 1.7%, to $530.9 million from $522.1 million a year earlier. Earnings climbed 5.3%, to $40.5 million, or $0.52 a share, from $38.4 million, or $0.49. Revenue rose on stronger demand in mining, power systems and rentals. Those gains came despite a slowdown in construction activity. Sales of refrigeration systems were also up. Toromont is still a buy. buy…