Newmont (TSE:NGT) Hits New 12-Month High - What's Next?

Key Points

• Newmont Co.'s stock achieved a new 52-week high, reaching C$103.94, with a trading volume of 77,711 shares.
• Equities analysts have mixed ratings for Newmont, with five analysts rating it as a Strong Buy while others maintain ratings of Hold or Buy.
• The company, which has a market capitalization of C$115.37 billion, focuses primarily on gold production and operates in multiple countries including Canada, Mexico, and Ghana.

Newmont Co. (TSE:NGT - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$103.94 and last traded at C$103.54, with a volume of 77711 shares changing hands. The stock had previously closed at C$102.19.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Stifel Canada raised shares of Newmont to a "strong-buy" rating in a research note on Tuesday, July 8th. National Bank Financial raised Newmont from a "hold" rating to a "strong-buy" rating in a report on Friday, July 25th. Finally, The Goldman Sachs Group lowered Newmont from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 8th. Five equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Newmont presently has an average rating of "Buy" and an average target price of C$62.50.

Newmont Stock Performance

The company has a market capitalization of C$115.37 billion, a P/E ratio of 18.89, a price-to-earnings-growth ratio of 1.43 and a beta of 0.84. The firm has a 50 day moving average price of C$88.10 and a two-hundred day moving average price of C$76.73. The company has a debt-to-equity ratio of 30.62, a quick ratio of 1.77 and a current ratio of 1.96.

About Newmont

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.

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