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Shares of Newmont Mining Has Risen Above Previous 52-Week High

By Amy Schwartz

Newmont Mining (NYSE:NEM) traded today at a new 52-week high of $36.68. Approximately 1.6 million shares have changed hands today, as compared to an average 30-day volume of 8.1 million shares.

Newmont Mining (NYSE:NEM) defies analysts with a current price ($36.47) 38.0% above its average consensus price target of $22.61. The stock should find initial support at its 50-day moving average (MA) of $28.52 and further support at its 200-day MA of $20.97.

In the past 52 weeks, shares of Newmont Mining have traded between a low of $15.39 and a high of $36.68 and are now at $36.47, which is 137% above that low price. The 200-day and 50-day moving averages have moved 1.31% higher and 2.33% higher over the past week, respectively.

Newmont Mining Corporation acquires, explores, and develops mineral properties. The Company produces gold from operations in the United States, Australia, Peru, Indonesia, Ghana, Canada, New Zealand and Mexico. Newmont also mines and processes copper in Indonesia.

SmarTrend is monitoring the recent change of momentum in Newmont Mining. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Newmont Mining in search of a potential trend change.

Keywords: 52 week high/lows newmont mining

Ticker(s): NEM