Newmont (TSE:NGT) Upgraded at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Newmont (TSE:NGT) to a strong-buy rating in a research report report published on Monday,Zacks.com reports.

Several other equities research analysts have also commented on the company. CLSA upgraded Newmont to a “hold” rating in a research report on Friday, November 29th. UBS Group downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Citigroup cut their price objective on shares of Newmont from C$66.00 to C$45.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Scotiabank lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 25th. Finally, Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and an average target price of C$56.50.

Newmont Trading Up 2.7 %

Newmont stock opened at C$59.31 on Monday. The stock has a 50-day moving average price of C$57.62 and a 200 day moving average price of C$64.85. The company has a market capitalization of C$68.21 billion, a price-to-earnings ratio of -15.65, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. Newmont has a 52 week low of C$39.96 and a 52 week high of C$81.16. The company has a quick ratio of 1.77, a current ratio of 2.11 and a debt-to-equity ratio of 31.20.

Newmont (TSE:NGT) last released its quarterly earnings data on Wednesday, October 23rd. The company reported C$1.11 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 business had revenue of C$6.28 billion for the quarter, compared to the consensus estimate of C$5.79 billion. Sell-side analysts anticipate that Newmont will post 5.509887 EPS for the current year.

Newmont Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th were issued a $0.338 dividend. This represents a $1.35 annualized dividend and a yield of 2.28%. The ex-dividend date was Wednesday, November 27th. Newmont’s payout ratio is currently -35.62%.

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.