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

Newmont (TSE:NGT) had its target price lowered by Citigroup from C$66.00 to C$45.00 in a report released on Monday,BayStreet.CA reports. The firm currently has a buy rating on the stock.

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

Newmont Stock Up 0.1 %

TSE:NGT opened at C$54.92 on Monday. The company has a current ratio of 2.11, a quick ratio of 1.77 and a debt-to-equity ratio of 31.20. The stock has a 50 day moving average of C$62.83 and a 200-day moving average of C$65.04. The firm has a market capitalization of C$63.16 billion, a PE ratio of -14.49, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. Newmont has a 52 week low of C$39.96 and a 52 week high of C$81.16.

Newmont (TSE:NGT) last issued 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 firm had revenue of C$6.28 billion during the quarter, compared to the consensus estimate of C$5.79 billion. Analysts predict that Newmont will post 5.509887 EPS for the current year.

Newmont Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th were paid a dividend of $0.338 per share. This represents a $1.35 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend was Wednesday, November 27th. Newmont’s payout ratio is currently -35.62%.

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.