Newmont (TSE:NGT) Shares Down 1.1% – Here’s What Happened

Shares of Newmont Co. (TSE:NGT) traded down 1.1% during trading on Monday . The company traded as low as C$115.79 and last traded at C$116.00. 293,766 shares were traded during trading, an increase of 22% from the average daily volume of 240,366 shares. The stock had previously closed at C$117.24.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NGT. Sanford C. Bernstein upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. National Bank Financial downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 16th. Finally, Barclays raised Newmont to a “strong-buy” rating in a research note on Thursday, May 21st. Nine equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Strong Buy” and an average target price of C$125.00.

Newmont Price Performance

The company’s fifty day moving average is C$116.00 and its two-hundred day moving average is C$116.00. The company has a debt-to-equity ratio of 23.69, a quick ratio of 1.76 and a current ratio of 2.23. The firm has a market cap 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.

About Newmont

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.