Newmont (TSE:NGT) Stock Price Down 1.1% – Here’s Why

Newmont Co. (TSE:NGT)’s share price fell 1.1% during mid-day trading on Tuesday . The stock traded as low as C$115.79 and last traded at C$116.00. Approximately 293,766 shares traded hands during mid-day trading, an increase of 22% from the average session volume of 240,366 shares. The stock had previously closed at C$117.24.

Analysts Set New Price Targets

NGT has been the topic of several recent analyst reports. Barclays upgraded Newmont to a “strong-buy” rating in a report on Thursday, May 21st. National Bank Financial cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 16th. Eight analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Strong Buy” and a consensus price target of C$125.00.

Newmont Trading Down 1.1%

The firm has a market capitalization of C$127.42 billion, a price-to-earnings ratio of 20.86, a price-to-earnings-growth ratio of 1.43 and a beta of 0.90. The business’s fifty day moving average is C$116.00 and its 200 day moving average is C$116.00. The company has a quick ratio of 1.76, a current ratio of 2.23 and a debt-to-equity ratio of 23.69.

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.