Newmont (TSE:NGT) Rating Increased to Strong-Buy at Scotiabank

Newmont (TSE:NGT) was upgraded by investment analysts at Scotiabank from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday, Zacks.com reports.

Other analysts also recently issued reports about the stock. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. National Bank Financial lowered Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Tuesday, April 30th. National Bankshares raised their target price on Newmont from C$67.00 to C$68.00 and gave the stock a “sector perform” rating in a research report on Monday, June 10th. UBS Group raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Monday, June 17th. Finally, BNP Paribas raised shares of Newmont to a “strong-buy” rating in a research note on Friday, June 21st. One equities research analyst has rated the stock with a hold rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, Newmont currently has an average rating of “Strong Buy” and an average target price of C$68.00.

Newmont Stock Performance

Shares of NGT opened at C$69.87 on Monday. The firm has a market cap of C$80.35 billion, a price-to-earnings ratio of -18.53, a price-to-earnings-growth ratio of 1.24 and a beta of 0.49. The company’s fifty day moving average is C$62.45 and its 200-day moving average is C$55.00. 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 has a 12 month low of C$39.96 and a 12 month high of C$70.17.

Newmont (TSE:NGT) last issued its quarterly earnings data on Wednesday, July 24th. The company reported C$0.99 EPS for the quarter, beating analysts’ consensus estimates of C$0.72 by C$0.27. Newmont had a negative return on equity of 8.09% and a negative net margin of 13.29%. The business had revenue of C$6.02 billion for the quarter, compared to analyst estimates of C$4.79 billion. Equities analysts expect that Newmont will post 5.7208333 EPS for the current fiscal 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.