UBS Group Upgrades Newmont (TSE:NGT) to “Strong-Buy”

Newmont (TSE:NGT) was upgraded by equities researchers at UBS Group from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Friday,Zacks.com reports.

NGT has been the topic of several other research reports. Citigroup dropped their target price on shares of Newmont from C$66.00 to C$45.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. The Goldman Sachs Group raised Newmont to a “strong-buy” rating in a research report on Monday, January 13th. National Bank Financial raised Newmont to a “hold” rating in a report on Friday, March 21st. Finally, National Bankshares upped their price target on Newmont from C$75.00 to C$80.00 and gave the company a “sector perform” rating in a report on Wednesday, March 19th. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$62.50.

Newmont Price Performance

NGT stock opened at C$76.34 on Friday. The company has a debt-to-equity ratio of 30.62, a current ratio of 1.96 and a quick ratio of 1.77. Newmont has a 1 year low of C$50.27 and a 1 year high of C$81.16. The firm has a 50-day moving average of C$65.94 and a 200 day moving average of C$63.89. The company has a market cap of C$60.72 billion, a P/E ratio of -50.44, a PEG ratio of 1.43 and a beta of 0.51.

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.