Short Term Price Target on Newmont Mining Corporation (NEM)

Newmont Mining Corporation (NYSE:NEM) : Average target price received by Newmont Mining Corporation (NYSE:NEM) is $34.46 with an expected standard deviation of $5.88. The most aggressive target on the stock is $45, whereas the most downbeat target is $26. 11 financial analysts are currently covering the stock.

Shares of Newmont Mining Corporation rose by 10.54% in the last five trading days and 19.86% for the last 4 weeks. Newmont Mining Corporation is up 47.06% in the last 3-month period. Year-to-Date the stock performance stands at 117.81%. Also, Equity Analysts at the Jefferies downgrades the rating on Newmont Mining Corporation (NYSE:NEM). The brokerage firm has issued a Hold rating on the shares. The shares were previously rated Buy. The Analysts at the ratings agency lowers the price target from $38 per share to $33 per share. The rating by the firm was issued on June 2, 2016.

Newmont Mining Corporation (NYSE:NEM) : Zacks Investment Research ranks Newmont Mining Corporation (NYSE:NEM) as 3, which is a Hold recommendation. 3 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 1 other analysts are mildly bullish on the stock and favor a Buy. A total of 9 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 13 research analysts is 2.46, which indicates as a Buy.

Newmont Mining Corporation (NYSE:NEM): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $38.23 and $37.77 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $39.25. The buying momentum continued till the end and the stock did not give up its gains. It closed at $39.12, notching a gain of 3.79% for the day. The total traded volume was 8,520,005 . The stock had closed at $37.69 on the previous day.

In an insider trading activity,The officer (Vice President and Treasurer) of Newmont Mining Corp /De/, Mahoney Thomas P sold 692 shares at $26.05 on May 1, 2015. The Insider selling transaction had a total value worth of $18,027. The Insider information was disclosed with 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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