Zacks Investment Research downgraded Newmont Mining Corp (NYSE:NEM) to Hold in a report released today.
- Updated: October 3, 2016
Zacks Investment Research has downgraded Newmont Mining Corp (NYSE:NEM) to Hold in a report released on 10/03/2016.
Previously on Wednesday September 21, 2016, Vetr Inc. reported about Newmont Mining Corp (NYSE:NEM) raised the target price from $0.00 to $45.64. At the time, this indicated a possible upside of 0.16%.
Yesterday Newmont Mining Corp (NYSE:NEM) traded -3.03% lower at $37.94. The company’s 50-day moving average is $40.71 and its 200-day moving average is $36.38. The last stock close price is up 4.74% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 5,274,094 shares of the stock were exchanged, down from an average trading volume of 7,061,300
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Newmont Mining Corp has a 52 week low of $16.05 and a 52 week high of $46.07 with a P/E ratio of 514.86 The company’s market cap is currently $0.
In addition to Zacks Investment Research reporting its target price, a total of 17 firms have reported on the stock. The consensus target price is $35.35 with 1 firm rating the stock a strong buy, 8 firms rating the stock a buy, 10 firms rating the stock a hold, 1 firm rating the stock a underperform, and finally 0 firms rating the stock a sell.
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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