Zacks Investment Research downgraded Newmont Mining Corp (NYSE:NEM) to Hold in a report released today.
- Updated: September 17, 2016
Zacks Investment Research has downgraded Newmont Mining Corp(NYSE:NEM) to Hold in a report released on 8/22/2016.
Boasting a price of $43.33, Newmont Mining Corp (NYSE:NEM) traded 2.40% lower on the day. The last stock close is up 8.36% relative to the two hundred day average, compared to the S&P 500 which has decreased -0.01% over the same period. NEM has recorded a 50-day moving average of $42.59 and 200-day average of $35.31. Volume of trade was was up over the average, with 12,826,627 shares of NEM changing hands over the typical 7,464,680 shares.
Newmont Mining Corp has a P/E of 517 with a one-year low of $15.40 and a 52 week high of $46.07 and has a total market value of $0.0.
A total of 17 equity analysts have issued a research note on the company. One firm rate the company a strong buy, eight analysts rate the company a buy, 10 firms rate the company a hold, one analyst rate the stock to underperform, and finally 0 brokeragesrate the stock as sell with an average target stock price of $35.35
More 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, and 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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