Brokerages Set Newmont Co. (TSE:NGT) Target Price at C$56.50

Newmont Co. (TSE:NGT) has been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are presently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is C$56.50.

A number of equities analysts have commented on the stock. CLSA raised shares of Newmont to a “hold” rating in a research report on Friday, November 29th. The Goldman Sachs Group raised shares of Newmont to a “strong-buy” rating in a research report on Monday, January 13th. Cibc World Mkts cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. UBS Group cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Citigroup reduced their price objective on shares of Newmont from C$66.00 to C$45.00 and set a “buy” rating for the company in a research report on Monday, December 23rd.

Newmont Price Performance

Shares of NGT opened at C$65.97 on Tuesday. The company has a market cap of C$52.48 billion, a price-to-earnings ratio of -43.59, a PEG ratio of 1.43 and a beta of 0.51. Newmont has a 1-year low of C$39.96 and a 1-year high of C$81.16. The company’s fifty day simple moving average is C$58.87 and its 200 day simple moving average is C$64.86. 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.