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

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

A number of brokerages have issued reports on NGT. Scotiabank lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 25th. The Goldman Sachs Group upgraded shares of Newmont to a “strong-buy” rating in a research note on Monday, January 13th. CLSA raised shares of Newmont to a “hold” rating in a research report on Friday, November 29th. Cibc World Mkts cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, UBS Group lowered Newmont from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th.

Newmont Stock Performance

Shares of NGT stock opened at C$60.75 on Friday. 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 company’s fifty day moving average price is C$57.37 and its two-hundred day moving average price is C$64.93. The firm has a market capitalization of C$69.86 billion, a P/E ratio of -16.03, a P/E/G ratio of 1.43 and a beta of 0.51. Newmont has a 12 month low of C$39.96 and a 12 month high of C$81.16.

Newmont (TSE:NGT) last released its quarterly earnings results on Wednesday, October 23rd. The company reported C$1.11 EPS for the quarter, topping 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, research analysts anticipate that Newmont will post 5.509887 earnings per share for the current fiscal 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.