Newmont (TSE:NGT) Downgraded by Cibc World Mkts

Newmont (TSE:NGT) was downgraded by Cibc World Mkts from a “strong-buy” rating to a “hold” rating in a report issued on Monday, Zacks.com reports.

NGT has been the subject of a number of other research reports. Argus upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. Scotiabank lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of C$68.00.

Newmont Price Performance

NGT opened at C$66.53 on Monday. The company’s 50 day simple moving average is C$72.54 and its 200 day simple 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 1 year low of C$39.96 and a 1 year high of C$81.16. The stock has a market capitalization of C$76.51 billion, a PE ratio of -17.55, a P/E/G ratio of 1.43 and a beta of 0.51.

Newmont (TSE:NGT) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported C$1.11 EPS for the quarter, beating the consensus estimate of C$1.07 by C$0.04. The firm had revenue of C$6.28 billion for the quarter, compared to analyst estimates of C$5.79 billion. Newmont had a negative net margin of 13.29% and a negative return on equity of 8.09%. As a group, sell-side analysts expect that Newmont will post 5.509887 EPS 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.