Citigroup Issues Pessimistic Forecast for Newmont (TSE:NGT) Stock Price

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

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

Newmont Trading Up 0.1 %

Shares of TSE NGT opened at C$54.92 on Monday. The firm’s 50 day moving average price is C$63.23 and its 200-day moving average price is C$65.05. Newmont has a 52-week low of C$39.96 and a 52-week high of C$81.16. The company has a debt-to-equity ratio of 31.20, a quick ratio of 1.77 and a current ratio of 2.11. The company has a market cap of C$63.16 billion, a PE ratio of -14.49, a P/E/G ratio of 1.43 and a beta of 0.51.

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, beating the consensus estimate of C$1.07 by C$0.04. Newmont had a negative return on equity of 8.09% and a negative net margin of 13.29%. The business had revenue of C$6.28 billion for the quarter, compared to analysts’ expectations of C$5.79 billion. On average, equities research analysts expect that Newmont will post 5.509887 EPS 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.