Newmont Mining Corporation (NEM) : The highest level Newmont Mining Corporation (NEM) is projected to reach is $48 for the short term and the lowest estimate is at $26. The consolidated price target from 10 rating analysts who initiate coverage on the stock is $37.23 and the possibility the share price can swing is $7.17.
The short interest in Newmont Mining Corporation (NEM) has increased from 9,787,924 on June 15,2016 to 11,119,594 on June 30,2016. The change was measured at 1,331,670 shares or 13.6%. The leftover shorts were 2.1% of the floated shares. The days to cover are 1, given the average daily volume of 9,158,949 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.
Also, Equity Analysts at the Brokerage Firm, Jefferies, downgrades their rating on the shares of Newmont Mining Corporation (NYSE:NEM). Jefferies has a Hold rating on the shares. Previously, the analysts had a Buy rating on the shares. As per the latest research report, the brokerage house lowers the price target to $33 per share from a prior target of $38. The rating by the firm was issued on June 2, 2016.
Newmont Mining Corporation (NYSE:NEM): stock turned positive on Thursday. Though the stock opened at $40.16, the bulls momentum made the stock top out at $41.68 level for the day. The stock recorded a low of $39.93 and closed the trading day at $41.62, in the green by 1.81%. The total traded volume for the day was 7,146,424. The stock had closed at $40.88 in the previous days trading.
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.