Bank of America (Merrill Lynch) upgraded Newmont Mining Corporation (NYSE:NEM) from Neutral to Buy in a report released today.
- Updated: November 27, 2016
Bank of America (Merrill Lynch) has upgraded Newmont Mining Corporation (NYSE:NEM) from Neutral to Buy in a report released on 11/22/2016.
On Monday March 07, 2016, RBC Capital Markets reported about Newmont Mining Corporation (NYSE:NEM) raised the target price from $20.00 to $25.00 that suggested a downside of -0.04%.
Yesterday Newmont Mining Corporation (NYSE:NEM) traded 1.33% higher at $32.79. Newmont Mining Corporation’s 50-day average is $34.99 and its two hundred day average is $37.91. With the last stock price down -15.79% relative to the two hundred day average, compared with the S&P 500 Index which has decreased -0.03% over the same period. Volume of trade was down over the average, with 3,520,709 shares of NEM changing hands under the typical 7,383,490
Recent Performance Chart
Newmont Mining Corporation has with a 52 week low of $16.05 and a 52 week high of $46.07 and has a market capitalization of $0.
In addition to Bank of America (Merrill Lynch) reporting its target price, a total of 17 firms have reported on the stock. The consensus target price is $35.35 with 1 broker rating the stock a strong buy, 8 analysts rating the company a buy, ten analysts rating the company a hold, one brokerage rating the company a underperform, and lastly zero brokerages rating the company a sell.
Brief Synopsis About Newmont Mining Corporation (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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