Newmont (TSE:NGT) Hits New 52-Week High - What's Next?

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.

Shares of Newmont Co. (TSE:NGT - Get Free Report) reached a new 52-week high on Tuesday . The company 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

A number of research firms have weighed in on NGT. UBS Group raised Newmont from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th. Stifel Canada raised Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. The Goldman Sachs Group lowered Newmont from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 8th. National Bank Financial raised Newmont from a "hold" rating to a "strong-buy" rating in a report on Friday, July 25th. Finally, BMO Capital Markets raised Newmont to a "strong-buy" rating in a report on Tuesday, April 15th. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and six have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of C$62.50.

Newmont Stock Performance

The firm has a market cap of C$75.49 billion, a PE ratio of -62.70, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. The company has a 50 day simple moving average of C$81.47 and a 200-day simple moving average of C$72.83. The company has a debt-to-equity ratio of 30.62, a current ratio of 1.96 and a quick ratio of 1.77.

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.