Newmont Mining Corporation (NEM) Receives Price Target

Newmont Mining Corporation (NEM) : The highest level Newmont Mining Corporation (NEM) is projected to reach is $49 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 $42.23 and the possibility the share price can swing is $6.65.

Newmont Mining Corporation (NEM) : Zacks Investment Research ranks Newmont Mining Corporation (NEM) as 3, which is a Hold recommendation. 2 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 7 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 10 research analysts is 2.5, which indicates as a Buy.


Also, Morgan Stanley initiates coverage on Newmont Mining Corporation (NYSE:NEM). In the latest research report, Morgan Stanley announces the target price to $41 per share. According to the latest information available, the shares are now rated Equal-weight by the analysts at the agency. The rating by the firm was issued on August 9, 2016.

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 $38.03 and $37.62 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $39.44. The buying momentum continued till the end and the stock did not give up its gains. It closed at $39.43, notching a gain of 3.11% for the day. The total traded volume was 7,784,101 . The stock had closed at $38.24 on the previous day.

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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