Newmont (TSE:NGT – Get Free Report) had its price objective cut by stock analysts at Citigroup from C$66.00 to C$45.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential downside of 18.09% from the company’s previous close.
A number of other analysts also recently issued reports on NGT. Argus raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. Scotiabank lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 25th. CLSA raised shares of Newmont to a “hold” rating in a research report on Friday, November 29th. UBS Group lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$56.50.
View Our Latest Stock Analysis on Newmont
Newmont Trading Down 0.3 %
Newmont (TSE:NGT – Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported C$1.11 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of C$5.79 billion. As a group, research analysts forecast that Newmont will post 5.509887 earnings per share 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.
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