“Incorporating actual 4Q12 gold prices and our revised forecast for 2013 brings our estimate down to $3.90 from $4.14. Newmont already provided 2013 guidance, expecting production to be stable YoY at the midpoint of guidance (4,950k ozs) while unit cash cost should climb by 5.6% (+$38/oz) to $713/oz. – Newmont Mining (NEM) – 4Q12 Output Disappoints, Cutting 2013 Est’s to Reflect Guidance.) We are taking our price target down slightly to $49/share from $50. We value the stock based on a weighted average of multiple and DCF valuation, and we continue to apply a 14.0 multiple to EPS but we shift valuation out to 2014.,” Citigroup’s analyst commented.
Newmont Mining traded down 2.87% on Wednesday, hitting $43.27. Newmont Mining has a 1-year low of $42.55 and a 1-year high of $64.43. The stock’s 50-day moving average is currently $44.81. The company has a market cap of $21.481 billion and a price-to-earnings ratio of 205.30.
Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays Capital cut their price target on shares of Newmont Mining from $65.00 to $60.00 in a research note to investors on Monday, February 4th. They now have an overweight rating on the stock. Separately, analysts at HSBC reiterated an overweight rating on shares of Newmont Mining in a research note to investors on Thursday, January 31st. They now have a $59.00 price target on the stock. Finally, analysts at Jefferies Group set a $44.00 price target on shares of Newmont Mining in a research note to investors on Thursday, January 24th. They now have a hold rating on the stock.
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