Brokerages Set Newmont Co. (TSE:NGT) Target Price at C$56.50

Newmont Co. (TSE:NGT) has been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are currently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is C$56.50.

Several brokerages have recently weighed in on NGT. Citigroup cut their price objective on shares of Newmont from C$66.00 to C$45.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. UBS Group downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group raised shares of Newmont to a “strong-buy” rating in a research note on Monday, January 13th. Scotiabank lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 25th. Finally, Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th.

Newmont Trading Up 0.8 %

Shares of NGT opened at C$60.75 on Friday. Newmont has a fifty-two week low of C$39.96 and a fifty-two week high of C$81.16. The company has a market capitalization of C$69.86 billion, a PE ratio of -16.03, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. The stock has a fifty day moving average of C$57.37 and a two-hundred day moving average of C$64.93. 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 released its earnings results on Wednesday, October 23rd. The company reported C$1.11 earnings per share for the quarter, topping the consensus estimate of C$1.07 by C$0.04. The firm had revenue of C$6.28 billion for the quarter, compared to the consensus estimate of C$5.79 billion. Newmont had a negative return on equity of 8.09% and a negative net margin of 13.29%. As a group, analysts forecast that Newmont will post 5.509887 EPS for the current year.

Newmont Company Profile

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.