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

Citigroup upgraded shares of Newmont (TSE:NGT) to a strong-buy rating in a research note published on Monday morning,Zacks.com reports.

NGT has been the topic of several other research reports. Scotiabank upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 23rd. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. National Bankshares raised their target price on shares of Newmont from C$110.00 to C$125.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. The Goldman Sachs Group raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Sunday, October 12th. Finally, Macquarie raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 5th. Ten analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Strong Buy” and a consensus price target of C$125.00.

Newmont Stock Down 1.1%

TSE:NGT traded down C$1.24 on Monday, reaching C$116.00. The stock had a trading volume of 293,766 shares, compared to its average volume of 240,366. The company has a 50-day moving average of C$116.00 and a 200 day moving average of C$106.36. Newmont has a 12-month low of C$53.03 and a 12-month high of C$119.73. The stock has a market cap of C$127.42 billion, a P/E ratio of 20.86, a price-to-earnings-growth ratio of 1.43 and a beta of 0.90. The company has a current ratio of 1.96, a quick ratio of 1.77 and a debt-to-equity ratio of 30.62.

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.