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

Shares of Newmont Co. (TSE:NGT) fell 1.1% during trading on Friday . The stock traded as low as C$115.79 and last traded at C$116.00. Approximately 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 Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. National Bank Financial lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 16th. Barclays upgraded shares of Newmont to a “strong-buy” rating in a report on Thursday, May 21st. Eight investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Strong Buy” and a consensus price target of C$125.00.

Newmont Price Performance

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