Newmont (TSE:NGT) Upgraded to Hold at CLSA

CLSA upgraded shares of Newmont (TSE:NGT) to a hold rating in a research note published on Friday,Zacks.com reports.

Several other research analysts have also weighed in on NGT. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Scotiabank lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 25th. Argus upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. Finally, UBS Group lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and a consensus target price of C$68.00.

Newmont Stock Performance

TSE:NGT opened at C$58.91 on Friday. The company’s 50-day moving average is C$68.01 and its two-hundred day moving average is C$65.02. Newmont has a 1-year low of C$39.96 and a 1-year high of C$81.16. 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 firm has a market capitalization of C$67.75 billion, a price-to-earnings ratio of -15.54, a PEG ratio of 1.43 and a beta of 0.51.

Newmont (TSE:NGT) last released its quarterly earnings data on Wednesday, October 23rd. The company reported C$1.11 EPS for the quarter, beating analysts’ consensus estimates of C$1.07 by C$0.04. The firm had revenue of C$6.28 billion for the quarter, compared to analysts’ expectations of C$5.79 billion. Newmont had a negative return on equity of 8.09% and a negative net margin of 13.29%. Analysts forecast that Newmont will post 5.509887 EPS for the current year.

Newmont Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.338 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.35 annualized dividend and a yield of 2.30%. Newmont’s dividend payout ratio (DPR) is -35.62%.

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.