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Newmont (TSE:NGT) Upgraded by The Goldman Sachs Group to Strong-Buy Rating

Newmont logo with Basic Materials background

Newmont (TSE:NGT - Get Free Report) was upgraded by The Goldman Sachs Group to a "strong-buy" rating in a research note issued on Monday,Zacks.com reports.

NGT has been the subject of several other reports. Cibc World Mkts downgraded Newmont from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 28th. Citigroup cut their target price on Newmont from C$66.00 to C$45.00 and set a "buy" rating on the stock in a research report on Monday, December 23rd. UBS Group lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, October 30th. CLSA upgraded shares of Newmont to a "hold" rating in a research note on Friday, November 29th. Finally, Scotiabank downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 25th. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of C$56.50.

Read Our Latest Report on NGT

Newmont Stock Up 2.7 %

Newmont stock traded up C$1.57 during trading on Monday, reaching C$59.31. 228,187 shares of the company's stock were exchanged, compared to its average volume of 199,823. The company's 50-day moving average is C$57.62 and its two-hundred day moving average is C$64.85. 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. The firm has a market cap of C$68.21 billion, a price-to-earnings ratio of -15.65, a PEG ratio of 1.43 and a beta of 0.51.

Newmont (TSE:NGT - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The company reported C$1.11 earnings per share (EPS) for the quarter, beating 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 analyst estimates of C$5.79 billion. Newmont had a negative return on equity of 8.09% and a negative net margin of 13.29%. On average, analysts predict that Newmont will post 5.509887 earnings per share for the current year.

About Newmont

(Get Free Report)

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.

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Analyst Recommendations for Newmont (TSE:NGT)

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