Newmont (TSE:NGT) Sets New 52-Week High Following Analyst Upgrade

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)'s stock price hit a new 52-week high during trading on Wednesday after Royal Bank Of Canada upgraded the stock from a hold rating to a moderate buy rating. 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.

Other equities analysts have also recently issued reports about the stock. Stifel Canada raised shares of Newmont to a "strong-buy" rating in a research note on Tuesday, July 8th. Macquarie cut shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 2nd. The Goldman Sachs Group lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 8th. National Bank Financial upgraded shares of Newmont from a "hold" rating to a "strong-buy" rating in a report on Friday, July 25th. Finally, BNP Paribas lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 4th. Five equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$62.50.

Newmont Stock 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 stock has a market cap of C$120.02 billion, a P/E ratio of 19.65, a price-to-earnings-growth ratio of 1.43 and a beta of 0.90. The firm's 50 day moving average is C$92.81 and its 200 day moving average is C$79.35.

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.