Newmont (TSE:NGT) Raised to “Strong-Buy” at Scotiabank

Newmont (TSE:NGT) was upgraded by research analysts at Scotiabank from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

NGT has been the topic of several other research reports. Macquarie downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 2nd. National Bankshares raised their price objective on Newmont from C$110.00 to C$125.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. BNP Paribas downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. National Bank Financial raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 25th. Finally, Stifel Canada raised Newmont to a “strong-buy” rating in a research note on Tuesday, July 8th. Eight analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$85.00.

Newmont Stock Down 1.1%

TSE NGT opened at C$116.00 on Thursday. The stock’s 50-day moving average price is C$109.74 and its 200-day moving average price is C$89.33. The company has a quick ratio of 1.77, a current ratio of 1.96 and a debt-to-equity ratio of 30.62. Newmont has a 52 week low of C$53.03 and a 52 week high of C$119.73. The company has a market capitalization 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.

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.