Newmont Co. (TSE:NGT) Receives C$62.50 Consensus Price Target from Analysts

Key Points

• Newmont Co. has received an average rating of "Buy" from twelve research firms, with six analysts issuing a strong buy recommendation.
• The average 12-month price target set by brokerages is C$62.50, despite the stock currently trading at C$86.37.
• Newmont operates primarily as a gold producer with assets spread across multiple countries, including the US, Canada, and Ghana.

Newmont Co. (TSE:NGT - Get Free Report) has received a consensus recommendation of "Buy" from the twelve ratings firms that are covering the company, Marketbeat reports. Five analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and six have issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is C$62.50.

A number of brokerages have commented on NGT. UBS Group upgraded Newmont from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. National Bank Financial upgraded Newmont from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 25th. Cfra Research upgraded Newmont to a "strong-buy" rating in a research report on Friday, April 25th. The Goldman Sachs Group lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 8th. Finally, Stifel Canada raised shares of Newmont to a "strong-buy" rating in a research note on Tuesday, July 8th.

Newmont Price Performance

Shares of NGT stock traded up C$0.72 during trading hours on Tuesday, hitting C$95.59. The company's stock had a trading volume of 165,785 shares, compared to its average volume of 235,468. The company has a current ratio of 1.96, a quick ratio of 1.77 and a debt-to-equity ratio of 30.62. The business has a fifty day moving average of C$81.00 and a 200-day moving average of C$72.51. Newmont has a twelve month low of C$53.03 and a twelve month high of C$96.62. The stock has a market cap of C$76.04 billion, a price-to-earnings ratio of -63.16, a P/E/G ratio of 1.43 and a beta of 0.51.

Newmont Company Profile

Newmont Corp is primarily a gold producer with operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, and Ghana. It is also engaged in the production of copper, silver, lead and zinc. The company's operations are organized in five geographic regions: North America, South America, Australia, Africa and Nevada.