Newmont (TSE:NGT) Stock Rating Upgraded by Cibc World Mkts

Newmont (TSE:NGT) was upgraded by research analysts at Cibc World Mkts from a “hold” rating to a “strong-buy” rating in a report issued on Friday,Zacks.com reports.

Several other research firms have also issued reports on NGT. National Bank Financial raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 25th. The Goldman Sachs Group lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 8th. National Bankshares increased their price target on Newmont from C$110.00 to C$125.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Macquarie lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. Finally, Stifel Canada raised Newmont to a “strong-buy” rating in a research report on Tuesday, July 8th. Six research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$85.00.

Newmont Price Performance

NGT opened at C$116.00 on Friday. The stock’s 50-day moving average price is C$105.27 and its 200 day moving average price is C$85.97. Newmont has a 12-month low of C$53.03 and a 12-month high of C$119.73. The company has a current ratio of 1.96, a quick ratio of 1.77 and a debt-to-equity ratio of 30.62. The firm has a market cap of C$127.42 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 1.43 and a beta of 0.90.

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.