Newmont (TSE:NGT) Hits New 52-Week High - Here's Why

Key Points

• Newmont Co. shares reached a new 52-week high of C$100.61, closing at C$100.27 with a trading volume of 181,870 shares.
• Analysts have varying ratings for Newmont, with six analysts issuing a Strong Buy rating, while others hold a cautious Hold rating; the consensus rating is "Buy" with an average price target of C$62.50.
• The company, primarily a gold producer, has operations in several countries, including the United States, Canada, and Australia, and is also involved in the production of copper, silver, lead, and zinc.

Shares of Newmont Co. (TSE:NGT - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as C$100.61 and last traded at C$100.27, with a volume of 181870 shares traded. The stock had previously closed at C$98.61.

Wall Street Analysts Forecast Growth

NGT has been the topic of several research analyst reports. The Goldman Sachs Group downgraded Newmont from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 8th. National Bank Financial upgraded Newmont from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 25th. Finally, Stifel Canada upgraded Newmont to a "strong-buy" rating in a research note on Tuesday, July 8th. Six research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Newmont has a consensus rating of "Buy" and an average price target of C$62.50.

Newmont Trading Up 1.7%

The company has a debt-to-equity ratio of 30.62, a quick ratio of 1.77 and a current ratio of 1.96. The company has a 50 day simple moving average of C$86.42 and a two-hundred day simple moving average of C$75.69. The firm has a market cap of C$79.76 billion, a PE ratio of -66.25, a P/E/G ratio of 1.43 and a beta of 0.51.

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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