Newmont (TSE:NGT) Upgraded by CLSA to “Hold” Rating

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

Other equities analysts have also issued reports about the stock. Argus upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 29th. Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. UBS Group cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Scotiabank lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and an average price target of C$68.00.

Newmont Price Performance

NGT stock opened at C$58.91 on Friday. 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. The stock has a market cap of C$67.75 billion, a price-to-earnings ratio of -15.54, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. The business has a fifty day moving average of C$68.01 and a two-hundred day moving average of C$65.02.

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