Newmont (TSE:NGT) Stock Rating Lowered by Macquarie

Key Points

• Newmont has been downgraded from a "strong-buy" to a "hold" rating by Macquarie, reflecting changing analyst sentiments about the stock.
• Despite the downgrade by Macquarie, the consensus rating for Newmont among analysts remains a "Moderate Buy" with an average price target of C$62.50.
• Newmont's stock opened at C$104.59, having a 1-year low of C$53.03 and a high of C$105.39, indicating substantial price movement within the year.

Macquarie lowered shares of Newmont (TSE:NGT - Free Report) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

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

Newmont Stock Up 1.9%

Shares of NGT traded up C$1.95 during mid-day trading on Tuesday, reaching C$105.51. The company's stock had a trading volume of 231,536 shares, compared to its average volume of 235,246. Newmont has a 1 year low of C$53.03 and a 1 year high of C$106.88. The company has a quick ratio of 1.77, a current ratio of 1.96 and a debt-to-equity ratio of 30.62. The company has a market cap of C$115.90 billion, a price-to-earnings ratio of 18.98, a price-to-earnings-growth ratio of 1.43 and a beta of 0.90. The business has a fifty day moving average of C$90.10 and a 200 day moving average of C$77.70.

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.