Newmont (TSE:NGT) Rating Lowered to Hold at Scotiabank

Scotiabank downgraded shares of Newmont (TSE:NGT) from a strong-buy rating to a hold rating in a research report sent to investors on Friday, Zacks.com reports.

NGT has been the subject of a number of other reports. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Argus raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 29th. Two investment analysts have rated the stock with a hold rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Newmont currently has an average rating of “Buy” and an average price target of C$68.00.

Newmont Trading Down 1.3 %

Shares of Newmont stock opened at C$67.33 on Friday. The stock has a market cap of C$77.43 billion, a PE ratio of -17.77, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. The firm has a fifty day moving average price of C$72.67 and a 200 day moving average price of C$64.17. Newmont has a 1 year low of C$39.96 and a 1 year high of C$81.16. 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 announced 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. Newmont had a negative return on equity of 8.09% and a negative net margin of 13.29%. The company had revenue of C$6.28 billion during the quarter, compared to analysts’ expectations of C$5.79 billion. Equities research analysts predict that Newmont will post 5.509887 earnings per share for the current year.

Newmont Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be paid a dividend of $0.338 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.35 annualized dividend and a yield of 2.01%. Newmont’s dividend payout ratio is presently -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.