National Bankshares Forecasts Strong Price Appreciation for Newmont (TSE:NGT) Stock

Newmont (TSE:NGT) had its price objective upped by research analysts at National Bankshares from C$75.00 to C$80.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. National Bankshares’ target price would indicate a potential upside of 16.84% from the stock’s previous close.

A number of other brokerages have also weighed in on NGT. The Goldman Sachs Group upgraded Newmont to a “strong-buy” rating in a research report on Monday, January 13th. CLSA upgraded Newmont to a “hold” rating in a research report on Friday, November 29th. Finally, Citigroup reduced their price objective on Newmont from C$66.00 to C$45.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Five analysts have rated the stock with a hold rating, one has given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$62.50.

Newmont Stock Performance

TSE:NGT traded up C$0.08 during mid-day trading on Wednesday, hitting C$68.47. 71,312 shares of the stock were exchanged, compared to its average volume of 209,071. Newmont has a fifty-two week low of C$45.25 and a fifty-two week high of C$81.16. The firm’s 50-day simple moving average is C$62.56 and its 200 day simple moving average is C$64.24. The company has a debt-to-equity ratio of 30.62, a quick ratio of 1.77 and a current ratio of 1.96. The stock has a market capitalization of C$54.46 billion, a price-to-earnings ratio of -45.24, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51.

About Newmont

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.