HSBC Cuts Price Target on Newmont Mining (NEM)
Analysts at HSBC (NYSE: HBC) lowered their price target on shares of Newmont Mining (NYSE: NEM) from $102.00 to $95.00 in a research report issued to clients and investors on Thursday. The firm currently has an “overweight” rating on the stock.
Several other analysts have also recently commented on the stock. Analysts at Sterne Agee initiated coverage on shares of Newmont Mining in a research note to investors on Wednesday. They set a “buy” rating and a $65.00 price target on the stock. Separately, analysts at Jefferies Group (NYSE: JEF) cut their price target on shares of Newmont Mining to $46.00 in a research note to investors on Thursday, May 24th. They now have a “hold” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Newmont Mining in a research note to investors on Thursday, May 3rd. They now have a $50.00 price target on the stock.
Newmont Mining opened at 47.16 on Thursday. Newmont Mining has a 52-week low of $43.23 and a 52-week high of $72.42. The company has a market cap of $23.370 billion and a price-to-earnings ratio of 69.97.
Newmont Mining Corporation (Newmont) is a gold producer. At December 31, 2010, Newmont had gold reserves of 93.