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

Newmont (TSE:NGT) was upgraded by stock analysts at Citigroup to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Several other equities analysts have also recently issued reports on NGT. The Goldman Sachs Group upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Sunday, October 12th. National Bankshares lifted their price target on Newmont from C$110.00 to C$125.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Cibc World Mkts upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. BNP Paribas cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Friday, December 5th. Finally, Scotiabank upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 23rd. Ten investment 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Strong Buy” and an average price target of C$125.00.

Newmont Trading Down 1.1%

TSE:NGT opened at C$116.00 on Monday. Newmont has a 12 month low of C$53.03 and a 12 month high of C$119.73. The company has a market capitalization of C$127.42 billion, a P/E ratio of 20.86, a PEG ratio of 1.43 and a beta of 0.90. The firm has a fifty day simple moving average of C$116.00 and a 200-day simple moving average of C$106.36. 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.