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

Shares of Newmont Co. (TSE:NGT - Get Free Report) reached a new 52-week high on Friday . The stock traded as high as C$81.16 and last traded at C$80.65, with a volume of 58392 shares. The stock had previously closed at C$79.32.

Analysts Set New Price Targets

NGT has been the topic of several recent analyst reports. UBS Group raised Newmont from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. National Bankshares raised their price target on shares of Newmont from C$75.00 to C$80.00 and gave the company a "sector perform" rating in a report on Wednesday, March 19th. Cfra Research upgraded shares of Newmont to a "strong-buy" rating in a research note on Friday, April 25th. BMO Capital Markets upgraded shares of Newmont to a "strong-buy" rating in a research report on Tuesday, April 15th. Finally, National Bank Financial upgraded shares of Newmont to a "hold" rating in a report on Friday, March 21st. Five investment 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.com, Newmont presently has a consensus rating of "Buy" and a consensus price target of C$62.50.

Newmont Stock Up 2.1%

The company's 50-day moving average price is C$74.26 and its 200 day moving average price is C$66.34. 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 stock has a market cap of C$64.93 billion, a PE ratio of -53.93, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51.

Newmont Company Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.