National Bankshares Downgrades Newmont (TSE:NGT) to Sector Perform

Newmont (TSE:NGT) was downgraded by investment analysts at National Bankshares from an “outperform” rating to a “sector perform” rating in a note issued to investors on Wednesday, BayStreet.CA reports. They currently have a C$68.00 price objective on the stock, down from their previous price objective of C$69.00. National Bankshares’ price target would suggest a potential upside of 21.04% from the stock’s previous close.

Separately, National Bank Financial reaffirmed an “outperform overweight” rating on shares of Newmont in a research report on Monday, April 8th.

Newmont Stock Performance

Shares of Newmont stock opened at C$56.18 on Wednesday. Newmont has a 12 month low of C$39.96 and a 12 month high of C$68.15. The stock’s fifty day moving average price is C$49.29 and its 200-day moving average price is C$50.20. The firm has a market cap of C$64.61 billion, a P/E ratio of -13.67, a P/E/G ratio of 0.78 and a beta of 0.54. The company has a current ratio of 1.25, a quick ratio of 1.77 and a debt-to-equity ratio of 32.67.

Newmont (TSE:NGT) last posted its earnings results on Thursday, February 22nd. The company reported C$0.68 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.70 by C($0.02). The company had revenue of C$5.39 billion for the quarter, compared to analysts’ expectations of C$4.37 billion. Newmont had a negative return on equity of 10.23% and a negative net margin of 21.11%. On average, equities research analysts expect that Newmont will post 3.4813847 earnings per share 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.