Citigroup Lowers Newmont (TSE:NGT) Price Target to C$45.00

Newmont (TSE:NGT) had its price objective cut by analysts at Citigroup from C$66.00 to C$45.00 in a research report issued on Monday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price indicates a potential downside of 18.06% from the stock’s previous close.

A number of other research analysts have also recently commented on the stock. UBS Group cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Argus raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 29th. CLSA raised shares of Newmont to a “hold” rating in a research note on Friday, November 29th. Scotiabank cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 25th. Finally, Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and a consensus target price of C$56.50.

Newmont Trading Up 0.1 %

Newmont stock opened at C$54.92 on Monday. The stock has a market cap of C$63.16 billion, a P/E ratio of -14.49, a PEG ratio of 1.43 and a beta of 0.51. Newmont has a fifty-two week low of C$39.96 and a fifty-two week high of C$81.16. The firm’s fifty day moving average price is C$63.23 and its 200-day moving average price is C$65.05. The company has a debt-to-equity ratio of 31.20, a quick ratio of 1.77 and a current ratio of 2.11.

Newmont (TSE:NGT) last announced 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 for 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%. Equities research analysts forecast that Newmont will post 5.509887 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.