Argus Upgrades Newmont (TSE:NGT) to “Strong-Buy”

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

Several other equities research analysts have also recently weighed in on the company. UBS Group upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Monday, June 17th. Scotiabank raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 19th. National Bankshares lifted their price objective on Newmont from C$67.00 to C$68.00 and gave the company a “sector perform” rating in a research report on Monday, June 10th. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Finally, BNP Paribas upgraded Newmont to a “strong-buy” rating in a research report on Friday, June 21st. One equities research analyst has rated the stock with a hold rating and five have given a strong buy rating to the stock. According to MarketBeat, Newmont has an average rating of “Strong Buy” and an average target price of C$68.00.

Newmont Trading Up 0.3 %

Shares of NGT stock opened at C$71.94 on Thursday. The stock has a market capitalization of C$82.73 billion, a PE ratio of -19.39, a P/E/G ratio of 1.24 and a beta of 0.49. Newmont has a 1-year low of C$39.96 and a 1-year high of C$72.65. The business has a 50-day moving average of C$64.68 and a 200 day moving average of C$56.27. The company has a debt-to-equity ratio of 31.20, a current ratio of 2.11 and a quick ratio of 1.77.

Newmont (TSE:NGT) last released its quarterly earnings data on Wednesday, July 24th. The company reported C$0.99 earnings per share for the quarter, topping the consensus estimate of C$0.72 by C$0.27. Newmont had a negative return on equity of 8.09% and a negative net margin of 13.29%. The business had revenue of C$6.02 billion during the quarter, compared to analysts’ expectations of C$4.79 billion. As a group, sell-side analysts anticipate that Newmont will post 5.5945513 earnings per share 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.