Newmont (TSE:NGT) Shares Down 6.6% – Should You Sell?

Newmont Co. (TSE:NGT) fell 6.6% during mid-day trading on Thursday . The company traded as low as C$74.54 and last traded at C$74.68. 74,959 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 199,922 shares. The stock had previously closed at C$79.96.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NGT. Scotiabank raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 19th. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Finally, Argus raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. One investment analyst has rated the stock with a hold rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Newmont presently has a consensus rating of “Strong Buy” and a consensus target price of C$68.00.

Newmont Trading Down 7.3 %

The company has a debt-to-equity ratio of 31.20, a current ratio of 2.11 and a quick ratio of 1.77. The business’s 50 day moving average is C$72.68 and its 200 day moving average is C$63.90. The stock has a market cap of C$85.28 billion, a price-to-earnings ratio of -19.75, a P/E/G ratio of 1.43 and a beta of 0.51.

Newmont (TSE:NGT) last issued its earnings results on Wednesday, July 24th. The company reported C$0.99 EPS for the quarter, topping analysts’ consensus estimates of C$0.72 by C$0.27. The firm had revenue of C$6.02 billion during the quarter, compared to the consensus estimate of C$4.79 billion. Newmont had a negative net margin of 13.29% and a negative return on equity of 8.09%. As a group, equities analysts expect that Newmont Co. will post 5.509887 earnings per share for the current fiscal 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.