Newmont (TSE:NGT) Stock Price Expected to Rise, National Bankshares Analyst Says

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 - Get Free Report) had its price target increased by research analysts at National Bankshares from C$110.00 to C$125.00 in a research report issued on Monday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. National Bankshares' price objective would suggest a potential upside of 8.53% from the stock's previous close.

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

Newmont Price Performance

Shares of TSE:NGT traded up C$2.77 during midday trading on Monday, reaching C$115.18. 231,904 shares of the company's stock traded hands, compared to its average volume of 238,657. Newmont has a 1 year low of C$53.03 and a 1 year high of C$115.41. The company has a market cap of C$126.52 billion, a P/E ratio of 20.72, a PEG ratio of 1.43 and a beta of 0.90. 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 company has a fifty day simple moving average of C$95.63 and a two-hundred day simple moving average of C$81.00.

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.

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