Newmont (TSE:NGT) Sets New 1-Year High - Here's What Happened

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

Wall Street Analyst Weigh In

NGT has been the subject of a number of research analyst reports. The Goldman Sachs Group cut Newmont from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 8th. National Bank Financial upgraded Newmont to a "hold" rating in a report on Friday, March 21st. UBS Group upgraded Newmont from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. Stifel Canada upgraded Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. Finally, Cfra Research raised Newmont to a "strong-buy" rating in a research report on Friday, April 25th. Six analysts have rated the stock with a hold rating, one has assigned a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$62.50.

Newmont Stock Performance

The firm has a market capitalization of C$62.59 billion, a price-to-earnings ratio of -51.98, a P/E/G ratio of 1.43 and a beta of 0.51. The company has a quick ratio of 1.77, a current ratio of 1.96 and a debt-to-equity ratio of 30.62. The stock has a 50-day moving average price of C$76.24 and a 200 day moving average price of C$69.11.

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.