Newmont Mining Corp (NYSE:NEM)’s strength are solid financial position, reasonable valuation levels

Boston, MA, 07/01/2013 (nysepost) - Newmont Mining Corp (NYSE:NEM) traded at $29.95 in the previous trading session by going up by $2.24 (or 8.08%). The stock hit its day’s high at $30.25 and day’s low at $27.44. About 21.35 million shares traded during the day and the market capitalization of the company is $14.89 billion.

The company, Newmont Mining Corporation, was the leader of the pack of best stocks on Friday, 28th June, 2013. Along with the other gold miners, Newmont has also suffered in the recent months, due to the falling spot prices of gold. This had put their future projects along with their current high cost production at risk. The company has already written the entire value of its Hope Bay mine of Canada and the guess is that many more write downs may follow. Gold presents an amazing buying opportunity and the analysts suggest digging deeper into this sector as a whole.

The strength of the company is noticeable in many areas like its largely solid financial position, reasonable valuation levels and reasonable debt levels by most measures. However, there are also some weaknesses of the company like weak operating cash flow which is a disappointing performance in the stock.

The company, Newmont Mining Corporation, recently announced that it will report the results of second quarter of 2013 and related statistical and financial information after the close of market on Thursday, 25th July, 2013. On Friday, 26th July, 2013, a conference call will be held at 8:00 a.m. Mountain Time (10:00 a.m. Eastern Time). This conference will also be carried on the website of the company.

Newmont Mining Corporation is a producer of gold with assets and operations in United States of America, Indonesia, Ghana, Australia, Peru, Mexico and New Zealand. Its operating segments include South America, Asia Pacific, Africa and North America. The company is also involved in the copper production.

About the Author
Bhargavisatya@nysepost.com'