Newmont (TSE:NGT) Sets New 1-Year High – Should You Buy?

Newmont Co. (TSE:NGT)’s stock price hit a new 52-week high on Friday . The stock traded as high as C$111.59 and last traded at C$111.59, with a volume of 71291 shares. The stock had previously closed at C$108.02.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NGT shares. The Goldman Sachs Group downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 8th. BNP Paribas cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 4th. National Bank Financial raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 25th. Macquarie cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd. Finally, Stifel Canada raised Newmont to a “strong-buy” rating in a report on Tuesday, July 8th. Five analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$62.50.

Newmont Stock Performance

The company has a debt-to-equity ratio of 30.62, a current ratio of 1.96 and a quick ratio of 1.77. The firm has a market capitalization of C$123.48 billion, a PE ratio of 20.22, a P/E/G ratio of 1.43 and a beta of 0.90. The business has a 50-day simple moving average of C$95.63 and a 200-day simple moving average of C$80.87.

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.