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

Newmont Co. (TSE:NGT)’s stock price fell 1.1% during mid-day trading on Monday . The stock traded as low as C$115.79 and last traded at C$116.00. 293,766 shares changed 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.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NGT shares. Sanford C. Bernstein raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. National Bank Financial downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 16th. Finally, Barclays upgraded shares of Newmont to a “strong-buy” rating in a report on Thursday, May 21st. Nine 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 stock. Based on data from MarketBeat.com, Newmont currently has a consensus rating of “Strong Buy” and an average price target of C$125.00.

Newmont Stock Performance

The company has a current ratio of 2.23, a quick ratio of 1.76 and a debt-to-equity ratio of 23.69. 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 company has a 50-day moving average of C$116.00 and a 200-day moving average of C$116.00.

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.