Newmont (TSE:NGT) Rating Increased to Strong-Buy at The Goldman Sachs Group

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

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

Newmont Stock Performance

Newmont stock opened at C$57.74 on Monday. The stock’s 50 day simple moving average is C$57.62 and its two-hundred day simple moving average is C$64.85. The company has a debt-to-equity ratio of 31.20, a quick ratio of 1.77 and a current ratio of 2.11. The stock has a market cap of C$66.40 billion, a price-to-earnings ratio of -15.23, a PEG ratio of 1.43 and a beta of 0.51. Newmont has a fifty-two week low of C$39.96 and a fifty-two week high of C$81.16.

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

Newmont Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, November 27th were paid a dividend of $0.338 per share. This represents a $1.35 annualized dividend and a yield of 2.34%. The ex-dividend date was Wednesday, November 27th. Newmont’s payout ratio is -35.62%.

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.