Newmont (TSE:NGT) Downgraded by Scotiabank

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

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

Newmont Trading Down 1.3 %

Shares of NGT opened at C$67.33 on Friday. Newmont has a 12-month low of C$39.96 and a 12-month high of C$81.16. The firm has a market capitalization of C$77.43 billion, a P/E ratio of -17.77, a P/E/G ratio of 1.43 and a beta of 0.51. The firm has a 50-day moving average price of C$72.67 and a 200 day moving average price of C$64.02. 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 posted its quarterly earnings results on Wednesday, October 23rd. The company reported C$1.11 earnings per share for the quarter, beating the consensus estimate of C$1.07 by C$0.04. The business had revenue of C$6.28 billion during 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%. Sell-side analysts forecast that Newmont will post 5.509887 EPS for the current year.

Newmont Company Profile

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.