The Goldman Sachs Group Upgrades Newmont (TSE:NGT) to Strong-Buy

Newmont (TSE:NGT) was upgraded by analysts at The Goldman Sachs Group to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

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

Newmont Stock Up 2.3 %

TSE:NGT opened at C$57.74 on Monday. The company has a debt-to-equity ratio of 31.20, a quick ratio of 1.77 and a current ratio of 2.11. The company has a market capitalization 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. Newmont has a one year low of C$39.96 and a one year high of C$81.16. The stock has a 50-day simple moving average of C$57.62 and a 200 day simple moving average of C$64.85.

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