Newmont (TSE:NGT) Reaches New 52-Week High - Should You Buy?

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.

Newmont Co. (TSE:NGT - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$100.61 and last traded at C$100.27, with a volume of 181870 shares changing hands. The stock had previously closed at C$98.61.

Analysts Set New Price Targets

A number of research analysts recently commented on NGT shares. The Goldman Sachs Group downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 8th. National Bank Financial upgraded shares of 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 report on Tuesday, July 8th. Five investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of C$62.50.

Newmont Stock Up 1.8%

The company has a debt-to-equity ratio of 30.62, a current ratio of 1.96 and a quick ratio of 1.77. The firm's 50 day moving average price is C$87.69 and its two-hundred day moving average price is C$76.47. The firm has a market cap of C$112.25 billion, a price-to-earnings ratio of 18.38, a P/E/G ratio of 1.43 and a beta of 0.84.

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.