Equities research analysts at Barclays Capital (NYSE: BCS) boosted their price target on shares of Newmont Mining Co. (NYSE: NEM) from $42.00 to $50.00 in a research note to clients and investors on Friday. The analysts currently have an underweight rating on the stock.
Newmont Mining Corporation (Newmont) is a gold producing company with assets or operations in the United States, Australia, Peru, Indonesia, Ghana, Canada, New Zealand and Mexico. It is also engaged in the production of copper, principally through its Batu Hijau operation in Indonesia and Boddington operation in Australia. At December 31, 2009, Newmont had proven and probable gold reserves of 91.8 million equity ounces and an aggregate land position of approximately 33,400 square miles (86,500 square kilometers). In June 2009, the Company completed the acquisition of the remaining 33.33% interest in Boddington from AngloGold Ashanti Australia Limited (AngloGold).
Shares of Newmont Mining Co. (NYSE: NEM) traded down 0.09% during mid-day trading on Friday, hitting $56.89. Newmont Mining Co. has a 52 week low of $42.80 and a 52 week high of $65.50. The stocks 50-day moving average is $60.26 and its 200-day moving average is $60.2. On average, analysts predict that Newmont Mining Co. will post $1.19 EPS next quarter. The company has a market cap of $28.050 billion and a price-to-earnings ratio of 13.97.
