Newmont (TSE:NGT) Shares Up 4.5% - Here's What Happened

Newmont Co. (TSE:NGT - Get Free Report) shares were up 4.5% on Thursday . The company traded as high as C$76.13 and last traded at C$76.11. 351,263 shares changed hands during mid-day trading, an increase of 54% from the average session 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 a number of analyst reports. National Bank Financial raised Newmont to a "hold" rating in a research note on Friday, March 21st. UBS Group upgraded Newmont from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. BMO Capital Markets raised Newmont to a "strong-buy" rating in a report on Tuesday, April 15th. National Bankshares upped their price target on shares of Newmont from C$75.00 to C$80.00 and gave the stock a "sector perform" rating in a research note on Wednesday, March 19th. Finally, Cfra Research upgraded shares of Newmont to a "strong-buy" rating in a research note on Friday, April 25th. Five analysts have rated the stock with a hold rating, one has given a buy rating and six have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of C$62.50.

Newmont Price Performance

The company has a market cap of C$62.55 billion, a price-to-earnings ratio of -51.95, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. The company has a fifty day simple moving average of C$72.99 and a two-hundred day simple moving average of C$65.37. The company has a quick ratio of 1.77, a current ratio of 1.96 and a debt-to-equity ratio of 30.62.

About Newmont

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.