Newmont (TSE:NGT) Trading 4.5% Higher - Here's What Happened

Newmont Co. (TSE:NGT - Get Free Report)'s share price rose 4.5% during mid-day trading on Thursday . The stock traded as high as C$76.13 and last traded at C$76.11. Approximately 351,263 shares changed hands during mid-day trading, an increase of 54% from the average daily volume of 227,982 shares. The stock had previously closed at C$72.84.

Wall Street Analyst Weigh In

NGT has been the subject of several analyst reports. National Bankshares raised their target price on shares of Newmont from C$75.00 to C$80.00 and gave the stock a "sector perform" rating in a report on Wednesday, March 19th. National Bank Financial upgraded shares of Newmont to a "hold" rating in a report on Friday, March 21st. BMO Capital Markets upgraded shares of Newmont to a "strong-buy" rating in a report on Tuesday, April 15th. Cfra Research raised shares of Newmont to a "strong-buy" rating in a research note on Friday, April 25th. Finally, UBS Group raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 11th. Five analysts have rated the stock with a hold rating, one has issued a buy rating and six have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of C$62.50.

Newmont Stock Up 0.4%

The company has a market cap of C$62.79 billion, a PE ratio of -52.16, a P/E/G ratio of 1.43 and a beta of 0.51. The company's 50 day moving average is C$73.58 and its 200 day moving average is C$65.74. The company has a current ratio of 1.96, a quick ratio of 1.77 and a debt-to-equity ratio of 30.62.

Newmont Company Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.