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

Newmont (TSE:NGT - Get Free Report) had its price objective hoisted by research analysts at National Bankshares from C$75.00 to C$80.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. National Bankshares' price target would indicate a potential upside of 17.82% from the company's previous close.

Other equities analysts have also issued reports about the company. Citigroup cut their price target on Newmont from C$66.00 to C$45.00 and set a "buy" rating for the company in a report on Monday, December 23rd. The Goldman Sachs Group upgraded Newmont to a "strong-buy" rating in a research note on Monday, January 13th. Finally, CLSA upgraded Newmont to a "hold" rating in a research report on Friday, November 29th. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of C$62.50.

Newmont Stock Performance

TSE:NGT traded down C$0.45 on Wednesday, reaching C$67.90. 204,800 shares of the company's stock were exchanged, compared to its average volume of 209,565. The stock has a fifty day simple moving average of C$63.27 and a 200-day simple moving average of C$64.22. Newmont has a 52 week low of C$45.99 and a 52 week high of C$81.16. The company has a debt-to-equity ratio of 30.62, a current ratio of 1.96 and a quick ratio of 1.77. The firm has a market cap of C$54.01 billion, a price-to-earnings ratio of -44.86, a P/E/G ratio of 1.43 and a beta of 0.51.

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Newmont Company Profile

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.