Newmont (TSE:NGT) Price Target Cut to C$69.00 by Analysts at National Bankshares

Newmont (TSE:NGT) had its target price cut by analysts at National Bankshares from C$71.00 to C$69.00 in a research note issued on Friday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bankshares’ price target would suggest a potential upside of 28.37% from the stock’s current price.

Separately, National Bank Financial reaffirmed an “outperform overweight” rating on shares of Newmont in a research note on Monday, April 8th.

Newmont Price Performance

TSE:NGT traded up C$0.69 during trading hours on Friday, hitting C$53.75. 91,039 shares of the company’s stock traded hands, compared to its average volume of 243,042. Newmont has a 52 week low of C$39.96 and a 52 week high of C$68.15. The company has a quick ratio of 1.77, a current ratio of 1.25 and a debt-to-equity ratio of 32.67. The firm has a market cap of C$61.81 billion, a P/E ratio of -13.08, a P/E/G ratio of 0.78 and a beta of 0.54. The business’s fifty day simple moving average is C$47.08 and its two-hundred day simple moving average is C$49.91.

Newmont (TSE:NGT) last posted its earnings results on Thursday, February 22nd. The company reported C$0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.70 by C($0.02). Newmont had a negative return on equity of 10.23% and a negative net margin of 21.11%. The business had revenue of C$5.39 billion during the quarter, compared to the consensus estimate of C$4.37 billion. On average, research analysts anticipate that Newmont will post 3.4813847 earnings per share for the current fiscal year.

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.