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

Key Points

• Newmont Co. (TSE:NGT) reached a new 52-week high of C$111.59, marking notable stock performance with a trading volume of 71,291 shares.
• Analysts have mixed views on Newmont, with five rating the stock as a Strong Buy and seven issuing a Hold rating, leading to an overall average rating of "Moderate Buy."
• Newmont is primarily a gold producer and operates in multiple countries including the U.S., Canada, and Australia, indicating its significant global presence in the mining industry.

Newmont Co. (TSE:NGT - Get Free Report) shares reached a new 52-week high on Friday . The stock traded as high as C$111.59 and last traded at C$111.59, with a volume of 71291 shares traded. The stock had previously closed at C$108.02.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. National Bank Financial upgraded shares of Newmont from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 25th. Macquarie lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 2nd. BNP Paribas lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 4th. Stifel Canada upgraded shares of Newmont to a "strong-buy" rating in a research report on Tuesday, July 8th. Finally, Royal Bank Of Canada upgraded shares of Newmont from a "hold" rating to a "moderate buy" rating in a research report on Wednesday, September 10th. Five investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, Newmont has a consensus rating of "Moderate Buy" and a consensus price target of C$85.00.

Newmont Trading Up 3.0%

The firm has a market capitalization of C$127.12 billion, a P/E ratio of 20.81, a price-to-earnings-growth ratio of 1.43 and a beta of 0.90. 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 firm's 50-day simple moving average is C$95.63 and its 200-day simple moving average is C$81.00.

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.