Newmont (TSE:NGT) Rating Increased to Strong-Buy at Cibc World Mkts

Newmont (TSE:NGT) was upgraded by research analysts at Cibc World Mkts from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday, Zacks.com reports.

A number of other analysts have also recently commented on NGT. UBS Group raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Monday, June 17th. BNP Paribas raised shares of Newmont to a “strong-buy” rating in a report on Friday, June 21st. National Bankshares upped their target price on shares of Newmont from C$67.00 to C$68.00 and gave the company a “sector perform” rating in a report on Monday, June 10th. Finally, National Bank Financial cut shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a report on Tuesday, April 30th. Two investment analysts have rated the stock with a hold rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$59.00.

Newmont Stock Up 3.9 %

Shares of Newmont stock opened at C$64.27 on Wednesday. The company has a market cap of C$73.91 billion, a price-to-earnings ratio of -14.38, a price-to-earnings-growth ratio of 0.78 and a beta of 0.49. The company’s 50 day moving average is C$57.82 and its 200 day moving average is C$52.01. Newmont has a twelve month low of C$39.96 and a twelve month high of C$64.36. The company has a quick ratio of 1.77, a current ratio of 2.15 and a debt-to-equity ratio of 32.56.

Newmont (TSE:NGT) last issued its quarterly earnings data on Thursday, April 25th. The company reported C$0.74 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.48 by C$0.26. The company had revenue of C$5.42 billion for the quarter, compared to the consensus estimate of C$4.59 billion. Newmont had a negative net margin of 20.33% and a negative return on equity of 10.98%. Research analysts anticipate that Newmont will post 4.5226562 EPS 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.