Large Inflow of Money Detected in Newmont Mining Corporation

Newmont Mining Corporation (NEM) : Wednesdays money flow data in Newmont Mining Corporation (NEM) suggests that the bulls made the most of the weakness in the stock. The inflow of money into the stock on upticks was $68.59 million, whereas, $60.16 million worth of transactions were done on downticks. The ratio between the two, uptick and downtick stood at 1.14, in favor of the bulls. The total money flow into the stock was $8.43 million clearly indicating that the smart money has been buying into the stock on weakness.

In comparison, the money flow in block deals was $9.64 million. The total value of block trades done on upticks was $14.17 million. The value of bearish trades on downticks was only $4.53 million.The up/down ratio in the block trades was a healthy 3.13 in favor of the bulls, suggesting strong buying in the stock by large traders. Newmont Mining Corporation (NEM) fell $2.1 and traded at $39.29, down -5.07% for the day, over previous days close. On a weekly basis, the shares are -4.94% over the previous weeks close.


Also, Jefferies maintains their rating on the shares of Newmont Mining Corporation (NYSE:NEM). The current rating of the shares is Hold. Equity Analysts at the Firm raises the price target to $42 per share from $33 per share. The rating by the firm was issued on July 14, 2016.

Newmont Mining Corporation (NYSE:NEM): The stock opened at $40.68 on Wednesday but the bulls could not build on the opening and the stock topped out at $40.69 for the day. The stock traded down to $39.05 during the day, due to lack of any buying support eventually closed down at $39.29 with a loss of -5.07% for the day. The stock had closed at $41.39 on the previous day. The total traded volume was 9,371,239 shares.

The stock has recorded a 20-day Moving Average of 0.14% and the 50-Day Moving Average is 8.46%. In a related news, The officer (Vice President and Treasurer), of Newmont Mining Corp /De/, Mahoney Thomas P had unloaded 692 shares at $26.05 per share in a transaction on May 1, 2015. The total value of transaction was $18,027. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.

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.

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