Newmont (TSE:NGT) Rating Increased to Strong-Buy at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Newmont (TSE:NGT) to a strong-buy rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other analysts also recently commented on NGT. CLSA upgraded shares of Newmont to a “hold” rating in a report on Friday, November 29th. Scotiabank lowered Newmont from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th. UBS Group cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Cibc World Mkts downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Finally, Citigroup dropped their price target on Newmont from C$66.00 to C$45.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Newmont has a consensus rating of “Moderate Buy” and an average price target of C$56.50.

Newmont Stock Performance

Newmont stock opened at C$57.74 on Monday. 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 company has a market cap of C$66.40 billion, a price-to-earnings ratio of -15.23, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. The stock’s 50-day moving average is C$57.62 and its 200-day moving average is C$64.85. Newmont has a 12 month low of C$39.96 and a 12 month high of C$81.16.

Newmont (TSE:NGT) last released its quarterly earnings results on Wednesday, October 23rd. The company reported C$1.11 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.07 by C$0.04. The business had revenue of C$6.28 billion during the quarter, compared to the consensus estimate of C$5.79 billion. Newmont had a negative net margin of 13.29% and a negative return on equity of 8.09%. Equities analysts anticipate that Newmont will post 5.509887 earnings per share for the current year.

Newmont Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th were issued a $0.338 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 2.34%. Newmont’s payout ratio 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.