Newmont (TSE:NGT) Price Target Raised to C$125.00

Key Points

• National Bankshares has raised its price target for Newmont (TSE:NGT) from C$110.00 to C$125.00, indicating a potential upside of 8.53%.
• Newmont's recent stock performance saw an increase of C$2.77, reaching a price of C$115.18, while its market capitalization stands at C$126.52 billion.
• Analyst ratings for Newmont vary, with five firms issuing a "Strong Buy" rating, while others, including Macquarie and BNP Paribas, have downgraded their ratings to "Hold".

Newmont (TSE:NGT - Free Report) had its price target raised by National Bankshares from C$110.00 to C$125.00 in a report released on Monday,BayStreet.CA reports. National Bankshares currently has an outperform rating on the stock.

A number of other equities analysts have also recently weighed in on the company. National Bank Financial raised Newmont from a "hold" rating to a "strong-buy" rating in a report on Friday, July 25th. Stifel Canada raised Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. BNP Paribas cut Newmont from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 4th. The Goldman Sachs Group lowered Newmont from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 8th. Finally, Macquarie lowered Newmont from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 2nd. Five analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of C$85.00.

Newmont Price Performance

Shares of TSE NGT traded up C$2.56 during trading hours on Monday, reaching C$118.29. 73,891 shares of the stock traded hands, compared to its average volume of 238,228. The company has a market capitalization of C$129.94 billion, a P/E ratio of 21.28, 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. Newmont has a 52-week low of C$53.03 and a 52-week high of C$119.73. The company's 50-day simple moving average is C$96.28 and its two-hundred day simple moving average is C$81.37.

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.