BofA Merrill upgraded Newmont Mining (NYSE:NEM) from Neutral to Buy in a report released today.
- Updated: November 27, 2016
BofA Merrill has upgraded Newmont Mining (NYSE:NEM) from Neutral to Buy in a report released on Tuesday November 22, 2016.
Previously on 03/07/2016, RBC Capital Markets reported on Newmont Mining (NYSE:NEM) increased the target price from $20.00 to $25.00. At the time, this indicated a possible downside of -0.04%.
Yesterday Newmont Mining (NYSE:NEM) traded 1.33% higher at $33.07. The company’s 50-day moving average is $34.99 and its 200-day moving average is $37.91. The last closing price is down -15.79% from the 200-day moving average, compared to the S&P 500 which has decreased -0.03% over the same time period. 3,520,709 shares of NEM traded hands, down from an average trading volume of 7,383,490
Recent Performance Chart
Newmont Mining has with a one year low of $16.05 and a one year high of $46.07 and has a total market value of $0.
A total of 17 equity analysts have released a research note on NEM. One equity analyst rating the company a strong buy, eight equity analysts rating the company a buy, ten equity analysts rating the company a hold, one equity analyst rating the company a underperform, and finally zero equity analysts rating the company a sell with a one year target of $35.35.
Brief Synopsis About Newmont Mining (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.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.