Newmont (TSE:NGT) Shares Down 6.6% - What's Next?

Newmont Co. (TSE:NGT - Get Free Report)'s stock price traded down 6.6% on Thursday . The stock traded as low as C$74.54 and last traded at C$74.68. 74,959 shares traded hands during trading, a decline of 63% from the average session volume of 199,922 shares. The stock had previously closed at C$79.96.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Scotiabank raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a report on Monday, August 19th. Cibc World Mkts raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 10th. Finally, Argus raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 29th. One analyst has rated the stock with a hold rating and five have assigned a strong buy rating to the company. According to MarketBeat, Newmont currently has an average rating of "Strong Buy" and an average target price of C$68.00.

Newmont Stock Down 14.7 %

The business's 50 day moving average is C$72.68 and its 200-day moving average is C$63.90. The stock has a market cap of C$78.42 billion, a price-to-earnings ratio of -17.98, 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 (TSE:NGT - Get Free Report) last released its quarterly earnings results on Wednesday, July 24th. The company reported C$0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of C$0.72 by C$0.27. Newmont had a negative net margin of 13.29% and a negative return on equity of 8.09%. The firm had revenue of C$6.02 billion for the quarter, compared to analysts' expectations of C$4.79 billion. On average, sell-side analysts predict that Newmont Co. will post 5.509887 EPS 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.