Newmont (TSE:NGT) Trading Up 4.5% – Here’s Why

Newmont Co. (TSE:NGT) shares were up 4.5% on Thursday . The company traded as high as C$76.13 and last traded at C$76.11. Approximately 351,263 shares changed hands during trading, an increase of 54% from the average daily volume of 227,982 shares. The stock had previously closed at C$72.84.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on NGT shares. National Bank Financial upgraded shares of Newmont to a “hold” rating in a report on Friday, March 21st. UBS Group raised 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 research report on Tuesday, April 15th. Cfra Research raised Newmont to a “strong-buy” rating in a research report on Friday, April 25th. Finally, National Bankshares boosted their price target on Newmont from C$75.00 to C$80.00 and gave the stock a “sector perform” rating in a research report on Wednesday, March 19th. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and six have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$62.50.

Newmont Stock Performance

The stock has a market capitalization of C$60.54 billion, a price-to-earnings ratio of -50.29, a P/E/G ratio of 1.43 and a beta of 0.51. The company’s fifty day simple moving average is C$72.99 and its 200 day simple moving average is 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.