National Bank Financial Downgrades Newmont (TSE:NGT) to Sector Perform Overweight

Newmont (TSE:NGT) was downgraded by equities researchers at National Bank Financial from an “outperform overweight” rating to a “sector perform overweight” rating in a research report issued on Tuesday, Zacks.com reports.

Separately, National Bankshares downgraded Newmont from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from C$69.00 to C$68.00 in a research note on Wednesday.

Newmont Stock Down 0.2 %

NGT stock opened at C$55.88 on Tuesday. The company has a debt-to-equity ratio of 32.67, a quick ratio of 1.77 and a current ratio of 1.25. The company has a market capitalization of C$64.26 billion, a price-to-earnings ratio of -13.60, a PEG ratio of 0.78 and a beta of 0.54. Newmont has a fifty-two week low of C$39.96 and a fifty-two week high of C$68.15. The stock has a fifty day moving average of C$49.00 and a 200-day moving average of C$50.16.

Newmont (TSE:NGT) last posted its quarterly earnings results on Thursday, February 22nd. The company reported C$0.68 earnings per share for the quarter, missing the consensus estimate of C$0.70 by C($0.02). The firm had revenue of C$5.39 billion for the quarter, compared to the consensus estimate of C$4.37 billion. Newmont had a negative return on equity of 10.23% and a negative net margin of 21.11%. As a group, equities research analysts predict that Newmont will post 3.4813847 earnings per share 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.