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

Newmont Co. (TSE:NGT)’s share price rose 4.5% during trading on Thursday . The stock traded as high as C$76.13 and last traded at C$76.11. Approximately 351,263 shares were traded 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.

Analyst Upgrades and Downgrades

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

Newmont Stock Up 4.5%

The firm has a market cap 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 has a debt-to-equity ratio of 30.62, a current ratio of 1.96 and a quick ratio of 1.77. The stock has a 50-day moving average of C$72.99 and a 200-day moving average of C$65.37.

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.