Scotiabank Downgrades Newmont (TSE:NGT) to Hold

Newmont (TSE:NGT) was downgraded by equities researchers at Scotiabank from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Friday, Zacks.com reports.

Several other research firms have also recently issued reports on NGT. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Argus raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. Two equities research analysts have rated the stock with a hold rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of C$68.00.

Newmont Trading Down 1.3 %

Shares of TSE:NGT opened at C$67.33 on Friday. The business’s 50 day moving average price is C$72.67 and its 200-day moving average price is C$64.02. Newmont has a 1 year low of C$39.96 and a 1 year high of C$81.16. The firm has a market capitalization of C$77.43 billion, a price-to-earnings ratio of -17.77, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. 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 posted its quarterly earnings data 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. The business had revenue of C$6.28 billion for the quarter, compared to the consensus estimate of C$5.79 billion. Newmont had a negative net margin of 13.29% and a negative return on equity of 8.09%. On average, equities research analysts forecast 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.