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

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

A number of other brokerages also recently issued reports on NGT. Argus upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Scotiabank downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 25th. Finally, UBS Group downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$68.00.

Newmont Price Performance

NGT stock opened at C$58.91 on Friday. The company has a 50 day simple moving average of C$68.01 and a 200 day simple moving average of C$65.07. The stock has a market cap of C$67.75 billion, a price-to-earnings ratio of -15.54, a P/E/G ratio of 1.43 and a beta of 0.51. Newmont has a 1 year low of C$39.96 and a 1 year high of C$81.16. The company has a debt-to-equity ratio of 31.20, a current ratio of 2.11 and a quick ratio of 1.77.

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