Newmont (TSE:NGT) Cut to Sector Perform at National Bankshares

Newmont (TSE:NGTGet Rating) was downgraded by investment analysts at National Bankshares from an “outperform” rating to a “sector perform” rating in a report issued on Wednesday, BayStreet.CA reports. They presently have a C$119.00 price objective on the stock, up from their prior price objective of C$107.00. National Bankshares’ price target points to a potential upside of 15.41% from the company’s current price.

Shares of NGT stock traded down C$1.46 on Wednesday, hitting C$103.11. The company’s stock had a trading volume of 146,461 shares, compared to its average volume of 206,261. The company has a debt-to-equity ratio of 28.83, a current ratio of 2.90 and a quick ratio of 2.04. The stock has a market capitalization of C$81.72 billion and a price-to-earnings ratio of 56.20. Newmont has a fifty-two week low of C$66.25 and a fifty-two week high of C$108.98. The firm’s fifty day moving average price is C$94.64 and its 200-day moving average price is C$80.80.

Newmont (TSE:NGTGet Rating) last issued its quarterly earnings data on Thursday, February 24th. The company reported C$0.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of C$0.96 by C$0.02. The company had revenue of C$4.27 billion during the quarter, compared to the consensus estimate of C$4.22 billion.

Newmont Company Profile (Get Rating)

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, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.

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