Newmont (TSE:NGT) Rating Lowered to Hold at UBS Group

UBS Group lowered shares of Newmont (TSE:NGT) from a strong-buy rating to a hold rating in a research note released on Wednesday morning, Zacks.com reports.

Several other analysts have also recently commented on NGT. Scotiabank cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th. Argus upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday. Four equities research analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$68.00.

Newmont Trading Down 2.0 %

NGT opened at C$65.23 on Wednesday. The company’s 50 day moving average price is C$72.44 and its two-hundred day moving average price is C$64.36. The firm has a market capitalization of C$75.01 billion, a price-to-earnings ratio of -17.21, a PEG ratio of 1.43 and a beta of 0.51. Newmont has a fifty-two week low of C$39.96 and a fifty-two week 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.

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

Newmont Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be given a dividend of $0.338 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 2.07%. Newmont’s payout ratio is presently -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.