Citigroup Cuts Newmont (TSE:NGT) Price Target to C$45.00

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

A number of other equities 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 research report on Wednesday, October 30th. Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Scotiabank downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th. Argus upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. Finally, CLSA upgraded shares of Newmont to a “hold” rating in a research note on Friday, November 29th. Five investment 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 stock. According to data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and a consensus price target of C$56.50.

Newmont Stock Performance

Shares of TSE:NGT opened at C$54.92 on Monday. The business’s 50-day simple moving average is C$62.83 and its 200 day simple moving average is C$65.04. The company has a market cap of C$63.16 billion, a P/E ratio of -14.49, a PEG ratio of 1.43 and a beta of 0.51. 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 has a one year low of C$39.96 and a one year high of C$81.16.

Newmont (TSE:NGT) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported C$1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.07 by C$0.04. The company had revenue of C$6.28 billion for the quarter, compared to analyst estimates of C$5.79 billion. Newmont had a negative net margin of 13.29% and a negative return on equity of 8.09%. On average, sell-side analysts forecast that Newmont will post 5.509887 earnings per share for the current fiscal year.

Newmont Cuts Dividend

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

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.