Newmont Mining Corp. (NYSE:NEM) trades on lower side


Dallas, Texas 07/11/2013 (Financialstrend) – Newmont Mining Corp. (NYSE:NEM) recently announced its attributable production and sales related to two commodities, gold and copper. While the company had earlier released the preliminary operating results for the second quarter of this fiscal year, the announcement on attributable production and sales is not significantly different. NEM will file its Form 10-Q for the second quarter of this fiscal year on July 25, 2013.

The attributable gold and copper production for the second quarter stood at 1.167 million ounces and 34 million pounds respectively. Preliminary guidance on the production and sale of gold was at 1.213 million ounces and that of copper amounted to 37 million pounds. In the expectations released for the full fiscal year 2013, the company announced that there might be production and sales of gold at 4.8 to 5.1 million ounces and that of copper at 150 to 170 million pounds. The gold rate at present had been fixed up by the London PM at around $1415 per ounce for this quarter. Expectations are surging on the financial results to be released in two weeks by the company.

Newmont Mining Corp.’s (NYSE:NEM) share price declined by 1.70% on Wednesday, and closed at $26.61 per share for the day. Intraday prices for the stock touched a low of $26.47 and a high of $27.49 per share. Trading volume stood at 4176 shares on Wednesday, with an average one of 9.17 million per day of trading.

Newmont Mining Corp. (NYSE:NEM) currently has a 52-week low price of $26.47 and a 52-week high price of $57.93 per share. The market cap is $13.23 billion with 497.21 million shares outstanding and 79% of institutional ownership.

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