Newmont (TSE:NGT) Sets New 52-Week High - Still a Buy?

Key Points

• Newmont Co. reached a new 52-week high at C$108.62, with its last trade at C$107.76 and a trading volume of 62,012 shares.
• Wall Street analysts have mixed views on Newmont, with ratings ranging from "strong-buy" to "hold," resulting in an average rating of "Moderate Buy" and a consensus price target of C$62.50.
• The company maintains a strong market presence with a market cap of C$118.30 billion and operates primarily as a gold producer across multiple regions worldwide.

Newmont Co. (TSE:NGT - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as C$108.62 and last traded at C$107.76, with a volume of 62012 shares. The stock had previously closed at C$105.25.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NGT. The Goldman Sachs Group downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 8th. BNP Paribas cut shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 4th. Stifel Canada upgraded Newmont to a "strong-buy" rating in a research note 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, Macquarie lowered Newmont from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 2nd. Five equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Newmont currently has an average rating of "Moderate Buy" and a consensus price target of C$62.50.

Newmont Price Performance

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 firm has a fifty day simple moving average of C$91.12 and a two-hundred day simple moving average of C$78.24. The firm has a market cap of C$118.30 billion, a PE ratio of 19.37, a PEG ratio of 1.43 and a beta of 0.90.

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.

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