Newmont (TSE:NGT) Reaches New 12-Month High - Here's Why

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

Analysts Set New Price Targets

A number of brokerages have weighed in on NGT. National Bank Financial raised Newmont to a "hold" rating in a report on Friday, March 21st. BMO Capital Markets upgraded Newmont to a "strong-buy" rating in a research report on Tuesday, April 15th. UBS Group raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. Cfra Research upgraded shares of Newmont to a "strong-buy" rating in a research note on Friday, April 25th. Finally, National Bankshares upped their price objective on shares of Newmont from C$75.00 to C$80.00 and gave the stock a "sector perform" rating in a research report on Wednesday, March 19th. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and six have issued a strong buy rating to the stock. According to data from MarketBeat.com, Newmont has an average rating of "Buy" and an average price target of C$62.50.

Newmont Trading Up 1.2%

The company has a market cap of C$63.88 billion, a P/E ratio of -53.06, a PEG ratio of 1.43 and a beta of 0.51. The firm's 50 day moving average is C$74.18 and its two-hundred day moving average is C$66.07. The company has a quick ratio of 1.77, a current ratio of 1.96 and a debt-to-equity ratio of 30.62.

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.

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