Newmont (TSE:NGT) Raised to “Hold” at CLSA

Newmont (TSE:NGT) was upgraded by equities research analysts at CLSA to a “hold” rating in a research note issued to investors on Friday,Zacks.com reports.

Several other research firms also recently weighed in on NGT. UBS Group downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Argus raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 29th. Scotiabank lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 25th. Finally, Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Five investment analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$68.00.

Newmont Stock Down 0.1 %

Shares of NGT opened at C$58.91 on Friday. The firm has a market cap of C$67.75 billion, a P/E ratio of -15.54, a PEG ratio of 1.43 and a beta of 0.51. Newmont has a 12 month low of C$39.96 and a 12 month high of C$81.16. The stock’s 50 day moving average is C$68.01 and its two-hundred day moving average is C$65.02. The company has a current ratio of 2.11, a quick ratio of 1.77 and a debt-to-equity ratio of 31.20.

Newmont (TSE:NGT) last released its quarterly earnings results on Wednesday, October 23rd. The company reported C$1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.07 by C$0.04. The firm had revenue of C$6.28 billion for the quarter, compared to analysts’ expectations of C$5.79 billion. Newmont had a negative net margin of 13.29% and a negative return on equity of 8.09%. Analysts predict that Newmont will post 5.509887 earnings per share for the current fiscal year.

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.