Newmont Mining Corporation (NEM) : 9 analysts are covering Newmont Mining Corporation (NEM) and their average rating on the stock is 2.67, which is read as a Hold. 1 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Newmont Mining Corporation (NEM) also receives 1 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. A total of 7 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Newmont Mining Corporation (NEM) has been rated by 10 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $49 and the lowest price target forecast is $26. The average forecast of all the analysts is $42.23 and the expected standard deviation is $6.65.
Also, Morgan Stanley initiates coverage on Newmont Mining Corporation (NYSE:NEM). The rating major has initiated the coverage with equal-weight rating on the shares. The Analysts at Morgan Stanley announces a current price target of $41 per share. The rating by the firm was issued on August 9, 2016.
Newmont Mining Corporation (NYSE:NEM): After opening at $38.38, the stock dipped to an intraday low of $38.23 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $39.4 and the buying power remained strong till the end. The stock closed at $39.2 for the day, a gain of 1.55% for the day session. The total traded volume was 7,327,096. The stocks close on the previous trading day was $38.6.
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.