Newmont Mining Corp (NYSE:NEM) shares increased by 6.18%


Dallas, Texas 08/19/2013 (Financialstrend) – It was noted that during the last trading session, the stock of Newmont Mining Corp (NYSE:NEM) had generated a profit of 6.18% and closed at the price of $ 31.94 for each share. For the day, the stock of Newmont Mining Corp opened at the price of $ 30.32 for each share which faced the oscillations between the prices of $ 30.22 and $ 32.10 during the intraday trading. A total number of around 12.37 million shares were traded for the day while the average trading volume of the company’s stock was remaining as 9.35 million shares for each day. For the 52-week period, the lowest price of the company’s stock is remaining as $ 26.43 for each share at present while the highest price of the stock is remaining at $ 57.93 for each share. At present, Newmont Mining Corp has a total number of 497.72 million shares outstanding in the market with the market capitalization value of about $ 15.90 billion.

At present, Newmont Mining Corp (NYSE:NEM) is planning to reduce their workforce by about one third of its existing workforce. It is to be noted that, during the second quarter, Newmont Mining Corp reported a loss. During the last several months, the gold rates were declining rapidly and Newmont Mining Corp has reported a hefty loss of around $ 2 billion for the second quarter. During the past three month period which ended by 30th of June, Newmont Mining Corp has faced a loss of about $ 4.06 per share in contrast with the net income of around $ 279 million generated during the year 2012. The revenue of Newmont Mining Corp has declined from $ 2.23 billion to $ 1.99 billion which is an 11% drop and could be compared with the estimates by Wall Street which was around $ 2.08 billion.

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