Price Target Update on Newmont Mining Corporation (NYSE:NEM)

Newmont Mining Corporation (NYSE:NEM) : The consensus price target for Newmont Mining Corporation (NYSE:NEM) is $33.86 for the short term with a standard deviation of $5.03. The most optimist securities analyst among the 11 who monitor the stock believes that the stock can reach $40, however, the pessimist price target for the company is $26.

Other Equity analysts have also commented on the company shares. Brokerage firm Jefferies downgrades its rating on Newmont Mining Corporation (NYSE:NEM). As per the latest information, the brokerage house lowers the price target to $33 per share from a prior target of $38. The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by the firm was issued on June 2, 2016.

Newmont Mining Corporation (NYSE:NEM): On Thursdays trading session , Opening price of the stock was $35.41 with an intraday high of $35.87. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $35.09. However, the stock managed to close at $35.39, a loss of 0.92% for the day. On the previous day, the stock had closed at $35.72. The total traded volume of the day was 5,107,619 shares.

The company shares have rallied 49.21% from its 1 Year high price. On Jun 16, 2016, the shares registered one year high at $37.39 and the one year low was seen on Aug 26, 2015. The 50-Day Moving Average price is $34.14 and the 200 Day Moving Average price is recorded at $26.56. On the companys insider trading activities, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (Vice President and Treasurer) of Newmont Mining Corp /De/, Mahoney Thomas P had sold 692 shares worth of $18,027 in a transaction dated May 1, 2015. In this transaction, 692 shares were sold at $26.05 per share.

Newmont Mining Corporation (Newmont) is a global mining company, which is focused on the production of and exploration for gold and copper. The Company is primarily a gold producer with operations and/or assets in the United States, Australia, Peru, Indonesia, Ghana, New Zealand and Suriname. The Companys business segments include North America, South America, Asia Pacific and Africa. The Companys North America segment consists primarily of Carlin, Phoenix, CC&V and Twin Creeks in the state of Nevada in the United States. The Companys South America segment consists primarily of Yanacocha in Peru. The Companys Asia Pacific segment consists primarily of Boddington, Tanami and Kalgoorlie in Australia, and Batu Hijau in Indonesia. The Companys Africa segment consists primarily of Ahafo and Akyem in Ghana. The Companys product at its gold operations is dore bars. Dore is an alloy consisting primarily of gold, as well as silver and other metals.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.