Newmont (TSE:NGT) Cut to “Hold” at UBS Group

Newmont (TSE:NGT) was downgraded by UBS Group from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

NGT has been the subject of a number of other reports. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday. Argus raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Scotiabank lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 25th. Four research analysts have rated the stock with a hold rating and two have given a strong buy rating to the company. According to data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and an average price target of C$68.00.

Newmont Price Performance

NGT stock opened at C$63.27 on Wednesday. The firm has a market cap of C$72.76 billion, a P/E ratio of -16.69, a P/E/G ratio of 1.43 and a beta of 0.51. The firm’s fifty day moving average is C$72.30 and its 200 day moving average is C$64.36. The company has a debt-to-equity ratio of 31.20, a quick ratio of 1.77 and a current ratio of 2.11. Newmont has a 52 week low of C$39.96 and a 52 week high of C$81.16.

Newmont (TSE:NGT) last posted its quarterly earnings data 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 business had revenue of C$6.28 billion for the quarter, compared to analysts’ expectations of C$5.79 billion. Research analysts predict that Newmont will post 5.509887 earnings per share 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.