Newmont (TSE:NGT) Hits New 52-Week High - Still a Buy?

Newmont Co. (TSE:NGT - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as C$83.68 and last traded at C$83.68, with a volume of 31849 shares traded. The stock had previously closed at C$82.28.

Analysts Set New Price Targets

Several equities research analysts have weighed in on NGT shares. National Bank Financial raised Newmont to a "hold" rating in a research report on Friday, March 21st. The Goldman Sachs Group lowered Newmont from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 8th. UBS Group raised Newmont from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. BMO Capital Markets raised Newmont to a "strong-buy" rating in a research note on Tuesday, April 15th. Finally, National Bankshares increased their price target on Newmont from C$75.00 to C$80.00 and gave the stock a "sector perform" rating in a research note on Wednesday, March 19th. Six equities research analysts have rated the stock with a hold rating, one has given a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$62.50.

Newmont Stock Performance

The company has a market cap of C$63.01 billion, a P/E ratio of -52.33, a PEG ratio of 1.43 and a beta of 0.51. The company has a 50 day moving average price of C$76.34 and a 200-day moving average price of C$69.19. The company has a quick ratio of 1.77, a current ratio of 1.96 and a debt-to-equity ratio of 30.62.

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.