Newmont (TSE:NGT) Rating Lowered to Hold at Cibc World Mkts

Newmont (TSE:NGT - Get Free Report) was downgraded by stock analysts at Cibc World Mkts from a "strong-buy" rating to a "hold" rating in a research note issued on Monday, Zacks.com reports.

NGT has been the subject of a number of other research reports. Scotiabank cut Newmont from a "strong-buy" rating to a "hold" rating in a research report on Friday. Argus raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of C$68.00.

Newmont Price Performance

TSE:NGT traded down C$0.68 during mid-day trading on Monday, hitting C$66.53. 261,309 shares of the company's stock traded hands, compared to its average volume of 207,556. The company has a debt-to-equity ratio of 31.20, a quick ratio of 1.77 and a current ratio of 2.11. The company has a market cap of C$76.51 billion, a PE ratio of -17.73, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. The firm's 50 day simple moving average is C$72.62 and its 200 day simple moving average is C$64.26. Newmont has a 1 year low of C$39.96 and a 1 year high of C$81.16.

Newmont (TSE:NGT - Get Free Report) last issued its quarterly earnings data 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. Newmont had a negative net margin of 13.29% and a negative return on equity of 8.09%. The business had revenue of C$6.28 billion during the quarter, compared to analysts' expectations of C$5.79 billion. Sell-side analysts expect that Newmont will post 5.509887 EPS for the current year.

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.