Bank of America Corp. upgraded Newmont Mining Corp (NYSE:NEM) to Buy in a report released today.
- Updated: November 28, 2016
Bank of America Corp. has upgraded Newmont Mining Corp (NYSE:NEM) to Buy in a report released on 11/28/2016.
Yesterday Newmont Mining Corp (NYSE:NEM) traded 4.79% higher at $31.92. The company’s 50-day moving average is $34.99 and its 200-day moving average is $37.91. The last stock close price is down -11.75% from the 200-day moving average, compared to the S&P 500 which has decreased -0.03% over the same time. 8,873,805 shares of the stock were exchanged, up from an average trading volume of 7,383,490
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Newmont Mining Corp has a 52 week low of $16.05 and a 52 week high of $46.07 The company’s market cap is currently $0.
In addition to Bank of America Corp. reporting its target price, a total of 17 firms have reported on NEM. The one year target is $35.35 with one equity analyst rating the company a strong buy, eight brokers rating the stock a buy, 10 brokers rating the stock a hold, 1 broker rating the stock a underperform, and finally 0 brokers rating the stock a sell.
General Information About Newmont Mining Corp (NYSE:NEM)
Newmont Mining Corporation 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 and Suriname. Its segments are North America, South America, Asia Pacific and Africa. It has gold reserves of over 73.7 million ounces and an aggregate land position of over 20,000 square miles. It is also engaged in the production of copper, through Batu Hijau in Indonesia, Boddington in Australia and Phoenix in the United States. The North America segment consists of Carlin, Phoenix and Twin Creeks in the state of Nevada, and Cripple Creek &Victor in the state of Colorado, in the United States. The South America segment consists of Yanacocha in Peru. The Asia Pacific segment consists of Boddington, Tanami and Kalgoorlie in Australia and Batu Hijau in Indonesia. The Africa segment consists primarily of Ahafo and Akyem in Ghana.
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