Newmont Mining Corp. Rating Lowered to Underperform at RBC Capital (NEM)
Newmont Mining Corp. (NYSE:NEM) was downgraded by investment analysts at RBC Capital from a “sector perform” rating to an “underperform” rating in a note issued to investors on Friday, TheFlyOnTheWall.com reports.
Shares of Newmont Mining Corp. (NYSE:NEM) traded down 10.37% on Friday, hitting $21.60. 35,309,908 shares of the company’s stock traded hands. Newmont Mining Corp. has a 52-week low of $21.27 and a 52-week high of $45.82. The stock has a 50-day moving average of $23.66 and a 200-day moving average of $27.08. The company’s market cap is $10.754 billion. Newmont Mining Corp. also saw some unusual options trading activity on Friday. Stock investors purchased 21,476 call options on the company. This is an increase of 138% compared to the average volume of 9,005 call options.
Several other analysts have also recently commented on the stock. Analysts at Barclays cut their price target on shares of Newmont Mining Corp. from $35.00 to $29.00 in a research note to investors on Friday, January 17th. They now have an “equal weight” rating on the stock. Separately, analysts at Bank of America Corp. downgraded shares of Newmont Mining Corp. from a “neutral” rating to an “underperform” rating in a research note to investors on Thursday, January 9th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Newmont Mining Corp. in a research note to investors on Tuesday, November 12th. They now have a $29.00 price target on the stock. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $37.58.
Newmont Mining Corporation is primarily a gold producer with operations and/or assets in the United States, Australia, Peru, Indonesia, Ghana, New Zealand and Mexico.
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