NEM Analyst Price Targets - FWD PE Now Less Than 11 Times!According to Motley Fool Canada (6 days ago),
Is Newmont Mining Stock a Good Buy Right Now? | The Motley Fool Canada Newmont was trading at a 100% discount to the average analyst price target
and was trading at 11 times Forward Earings! That was 6 days ago and the stock price has fallen about another 10% since then. If NEM isn't a steal of a buy at today's price then when wil it be?
The huge range in analyst 12 month price targets for Newmont suggests to me that on average they really don't have a clue. Regardless, logic would suggest that if the world's largest gold miner trading at less than 11 times forward earnings isn't enough to get the stock price moving back up at $2,050 gold then some other force must be intentionally holding the share price down and that force can only be hedge funds. How these hedge funds continue to get away with this blatant share price manipulation, and this manipulation goes well beyond gold stocks, just goes to show how little control regulators have over these crooks. What else explains how the price of gold can be at 5 year highs and projected to go higher (over the next 5 years) while many quality gold stocks are bouncing off 5 to 10 year lows in our current world geopolitical situation?
In the meantime, all we gold investors can do is wait for this nonsense to subside! I see the CEO of Newmont is speaking on BNN right now, maybe he can explain things?
My opinion only, please DYODD.
HB77
"Due to its compelling valuation and strong financials, Newmont Mining stock trades at a discount of 100% to consensus price target estimates." Other links:
Newmont (NGT) Stock Price, News & Analysis (marketbeat.com) NEM | Newmont Corp. Analyst Estimates & Rating – WSJ
What is the current Price Target and Forecast for Newmont (NEM) (zacks.com)