Newmont (TSE:NGT) Downgraded by Scotiabank

Scotiabank lowered shares of Newmont (TSE:NGT) from a strong-buy rating to a hold rating in a research note published on Friday morning, Zacks.com reports.

NGT has been the topic of a number of other reports. Argus raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 29th. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, Newmont has an average rating of “Buy” and an average price target of C$68.00.

Newmont Stock Down 1.3 %

Shares of TSE:NGT opened at C$67.33 on Friday. The company has a current ratio of 2.11, a quick ratio of 1.77 and a debt-to-equity ratio of 31.20. The stock has a fifty day simple moving average of C$72.67 and a two-hundred day simple moving average of C$64.17. Newmont has a 12-month low of C$39.96 and a 12-month high of C$81.16. The stock has a market capitalization of C$77.43 billion, a price-to-earnings ratio of -17.77, a PEG ratio of 1.43 and a beta of 0.51.

Newmont (TSE:NGT) last issued its 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 analyst estimates of C$5.79 billion. Newmont had a negative return on equity of 8.09% and a negative net margin of 13.29%. On average, research analysts anticipate that Newmont will post 5.509887 earnings per share for the current fiscal year.

Newmont Cuts Dividend

The firm also recently announced 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. This represents a $1.35 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s payout ratio is -35.62%.

Newmont Company Profile

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.