Newmont (TSE:NGT) Stock Rating Upgraded by Scotiabank

Newmont (TSE:NGT) was upgraded by research analysts at Scotiabank from a “hold” rating to a “strong-buy” rating in a report issued on Monday, Zacks.com reports.

Several other equities analysts have also recently weighed in on NGT. UBS Group raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Monday, June 17th. National Bank Financial cut shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research report on Tuesday, April 30th. BNP Paribas upgraded shares of Newmont to a “strong-buy” rating in a research report on Friday, June 21st. National Bankshares increased their price target on shares of Newmont from C$67.00 to C$68.00 and gave the stock a “sector perform” rating in a research report on Monday, June 10th. Finally, Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a hold rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Strong Buy” and a consensus price target of C$68.00.

Newmont Trading Up 0.4 %

NGT stock opened at C$70.15 on Monday. Newmont has a 52 week low of C$39.96 and a 52 week high of C$70.96. The company has a market capitalization of C$80.67 billion, a PE ratio of -18.61, a price-to-earnings-growth ratio of 1.24 and a beta of 0.49. The company’s 50-day simple moving average is C$62.74 and its 200 day simple moving average is C$55.17. 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 (TSE:NGT) last announced its earnings results on Wednesday, July 24th. The company reported C$0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.72 by C$0.27. Newmont had a negative net margin of 13.29% and a negative return on equity of 8.09%. The firm had revenue of C$6.02 billion for the quarter, compared to analyst estimates of C$4.79 billion. As a group, sell-side analysts anticipate that Newmont will post 5.7208333 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.