Newmont (TSE:NGT) Upgraded at CLSA

CLSA upgraded shares of Newmont (TSE:NGT) to a hold rating in a research note published on Friday morning,Zacks.com reports.

Several other research firms have also recently weighed in on NGT. Argus upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. UBS Group lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Scotiabank cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th. Finally, Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Five analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and a consensus target price of C$68.00.

Newmont Stock Performance

Newmont stock opened at C$58.91 on Friday. The stock has a 50-day simple moving average of C$68.01 and a 200 day simple moving average of C$65.12. The stock has a market capitalization of C$67.75 billion, a price-to-earnings ratio of -15.54, a P/E/G ratio of 1.43 and a beta of 0.51. 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$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 net margin of 13.29% and a negative return on equity of 8.09%. The firm had revenue of C$6.28 billion during the quarter, compared to analysts’ expectations of C$5.79 billion. On average, research analysts anticipate that Newmont will post 5.509887 earnings per share for the current fiscal year.

Newmont Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be paid a $0.338 dividend. This represents a $1.35 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s payout ratio is -35.62%.

About Newmont

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.