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

Key Points

• Newmont Co.'s stock hit a new 52-week high at C$92.51 during trading, with a last trade at C$92.47, reflecting a significant increase from the previous closing price of C$86.37.
• Equities research analysts have been bullish on Newmont, with several firms upgrading their ratings to "strong-buy," contributing to an average rating of "Buy" and a consensus target price of C$62.50.
• The company's market capitalization stands at C$73.28 billion, and it has a debt-to-equity ratio of 30.62, highlighting its financial leverage in the market.

Newmont Co. (TSE:NGT - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as C$92.51 and last traded at C$92.47, with a volume of 39373 shares changing hands. The stock had previously closed at C$86.37.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NGT shares. UBS Group raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 11th. National Bank Financial raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 25th. BMO Capital Markets upgraded shares of Newmont to a "strong-buy" rating in a report on Tuesday, April 15th. Stifel Canada upgraded shares of Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. Finally, The Goldman Sachs Group downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 8th. Five research 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 company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of C$62.50.

Newmont Trading Up 6.7%

The firm has a market capitalization of C$73.28 billion, a PE ratio of -60.87, a PEG ratio of 1.43 and a beta of 0.51. 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 company's 50-day moving average price is C$79.76 and its 200-day moving average price is C$71.98.

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.

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