Macquarie Downgrades Newmont (TSE:NGT) to Hold

Newmont (TSE:NGT) was downgraded by equities research analysts at Macquarie from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other analysts have also issued reports about the company. Stifel Canada raised Newmont to a “strong-buy” rating in a research note on Tuesday, July 8th. The Goldman Sachs Group cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 8th. Finally, National Bank Financial raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, July 25th. Five equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$62.50.

Newmont Price Performance

Shares of TSE NGT opened at C$104.04 on Tuesday. The company has a current ratio of 1.96, a quick ratio of 1.77 and a debt-to-equity ratio of 30.62. The company’s 50-day moving average price is C$89.09 and its 200 day moving average price is C$77.11. Newmont has a 52 week low of C$53.03 and a 52 week high of C$105.51. The stock has a market cap of C$114.28 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 1.43 and a beta of 0.84.

About Newmont

Newmont Corp is primarily a gold producer with operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, and Ghana. It is also engaged in the production of copper, silver, lead and zinc. The company’s operations are organized in five geographic regions: North America, South America, Australia, Africa and Nevada.