Newmont Mining Corporation (NEM) : Analyst Rating Update

Newmont Mining Corporation (NEM) : The consensus on Newmont Mining Corporation (NEM) based on 13 analyst recommendation on the company stock is 2.46, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 5 which endorses a Strong Sell on the stock. However, 3 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 1 analyst believes that the stock is a Buy, which can produce decent returns in the future. 9 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.

Newmont Mining Corporation (NEM) : Average target price received by Newmont Mining Corporation (NEM) is $34.46 with an expected standard deviation of $5.88. The most aggressive target on the stock is $45, whereas the most downbeat target is $26. 11 financial analysts are currently covering the stock.

Newmont Mining Corporation (NYSE:NEM): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $41.02 and $40.52 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $41.46. The buying momentum continued till the end and the stock did not give up its gains. It closed at $41.42, notching a gain of 2.58% for the day. The total traded volume was 10,745,090 . The stock had closed at $40.38 on the previous day.

Also, In a research note released to the investors, Jefferies downgrades its rating on Newmont Mining Corporation (NYSE:NEM).The analysts at the brokerage house have a current rating of Hold on the shares. Earlier, the shares were rated a Buy by the brokerage firm. In a recent information released to the investors, Jefferies lowers the new price target from $38 per share to $33 per share. The rating by the firm was issued on June 2, 2016. The company shares have rallied 79.31% from its 1 Year high price. On Jul 5, 2016, the shares registered one year high at $40.99 and the one year low was seen on Aug 26, 2015. The 50-Day Moving Average price is $35.26 and the 200 Day Moving Average price is recorded at $27.82.

Newmont Mining Corporation (Newmont) 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, New Zealand and Suriname. The Companys business segments include North America, South America, Asia Pacific and Africa. The Companys North America segment consists primarily of Carlin, Phoenix, CC&V and Twin Creeks in the state of Nevada in the United States. The Companys South America segment consists primarily of Yanacocha in Peru. The Companys Asia Pacific segment consists primarily of Boddington, Tanami and Kalgoorlie in Australia, and Batu Hijau in Indonesia. The Companys Africa segment consists primarily of Ahafo and Akyem in Ghana. The Companys product at its gold operations is dore bars. Dore is an alloy consisting primarily of gold, as well as silver and other metals.

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