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 report issued on Monday morning,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on the stock. UBS Group cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Citigroup decreased their price target on Newmont from C$66.00 to C$45.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. CLSA upgraded Newmont to a “hold” rating in a research report on Friday, November 29th. Finally, Scotiabank downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$56.50.

Newmont Price Performance

NGT stock opened at C$59.31 on Monday. Newmont has a 52-week low of C$39.96 and a 52-week high of C$81.16. The company has a quick ratio of 1.77, a current ratio of 2.11 and a debt-to-equity ratio of 31.20. The stock has a market cap of C$68.21 billion, a price-to-earnings ratio of -15.65, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. The business has a fifty day moving average of C$57.62 and a two-hundred day moving average of C$64.85.

Newmont (TSE:NGT) last released its quarterly earnings results on Wednesday, October 23rd. The company reported C$1.11 earnings per share for the quarter, topping 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 analysts’ expectations of C$5.79 billion. Newmont had a negative return on equity of 8.09% and a negative net margin of 13.29%. As a group, research analysts anticipate that Newmont will post 5.509887 earnings per share for the current year.

Newmont Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th were given a $0.338 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $1.35 annualized dividend and a yield of 2.28%. 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.