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

Newmont (TSE:NGT) had its price objective lowered by analysts at Citigroup from C$66.00 to C$45.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target indicates a potential downside of 18.09% from the stock’s previous close.

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

Newmont Price Performance

NGT traded down C$0.18 on Monday, reaching C$54.94. 128,772 shares of the company’s stock were exchanged, compared to its average volume of 212,205. Newmont has a twelve month low of C$39.96 and a twelve month high of C$81.16. The stock has a market cap of C$63.18 billion, a PE ratio of -14.50, a P/E/G ratio of 1.43 and a beta of 0.51. The company has a debt-to-equity ratio of 31.20, a current ratio of 2.11 and a quick ratio of 1.77. The stock’s fifty day moving average price is C$63.60 and its 200-day moving average price is C$65.00.

Newmont (TSE:NGT) last released its quarterly earnings data on Wednesday, October 23rd. The company reported C$1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.07 by C$0.04. Newmont had a negative net margin of 13.29% and a negative return on equity of 8.09%. The firm had revenue of C$6.28 billion during the quarter, compared to analysts’ expectations of C$5.79 billion. Sell-side analysts expect that Newmont will post 5.509887 EPS for the current 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.