Newmont Corporation (NYSE:NEM) traded at a new 52-week high today of $72.67. So far today approximately 4.6 million shares have been exchanged, as compared to an average 30-day volume of 6 million shares.
Potential upside of 8.0% exists for Newmont Corporation, based on a current level of $72.04 and analysts’ average consensus price target of $77.79.
Newmont is the world’s largest gold producer. In 2020, the company produced 5.9 million attributable ounces of gold and over 1 million attributable gold equivalent ounces from the sale of byproducts. On a long-term basis, the company expects to produce 6.5 to 7 million ounces of annual gold production while driving all-in sustaining costs down to $800 per $900 per ounce. In comparison, 2020 AISC was $1,045 per ounce.
In the past 52 weeks, shares of Newmont Corporation have traded between a low of $52.33 and a high of $72.67 and is now at $72.04, which is 38% above that low price.
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