Newmont (TSE:NGT) Rating Increased to Strong-Buy at Scotiabank

Scotiabank upgraded shares of Newmont (TSE:NGT) from a hold rating to a strong-buy rating in a report published on Thursday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. BNP Paribas cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. Royal Bank Of Canada raised Newmont from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, September 10th. Stifel Canada raised Newmont to a “strong-buy” rating in a research note on Tuesday, July 8th. The Goldman Sachs Group raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Sunday, October 12th. Finally, Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Eight equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$85.00.

Newmont Trading Down 1.1%

Shares of NGT opened at C$116.00 on Thursday. The business’s 50-day moving average price is C$109.33 and its 200 day moving average price is C$88.97. The stock has a market capitalization of C$127.42 billion, a P/E ratio of 20.86, a P/E/G ratio of 1.43 and a beta of 0.90. Newmont has a 1-year low of C$53.03 and a 1-year 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.

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.