Shares of Newmont Mining Rise Above Previous 52-Week High
Newmont Mining (NYSE:NEM) traded today at a new 52-week high of $36.41. This new high was reached on below average trading volume as 2 million shares traded hands, while the average 30-day volume is approximately 8.1 million shares.
In the past 52 weeks, shares of Newmont Mining have traded between a low of $15.39 and a high of $36.41 and are now at $36.10, which is 135% above that low price. Over the past week, the 200-day moving average (MA) has gone up 1.3% while the 50-day MA has advanced 2.3%.
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.
Based on a current price of $36.10, Newmont Mining is currently 37.4% above its average consensus analyst price target of $22.61. The stock should discover initial support at its 50-day moving average (MA) of $28.52 and subsequent support at its 200-day MA of $20.97.
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