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Newmont Mining (NEM -6.5%) shares tumble to 2008 lows as mining costs keep leaking higher, even...

Newmont Mining (NEM -6.5%) shares tumble to 2008 lows as mining costs keep leaking higher, even after costs surged 40% between 2010 and last year. Also, Q1 profits fell 36% and gold production slipped 11%. Jefferies cuts its target price to $32 from $40, perhaps the first of several downgrades and/or price-target cuts in store for NEM.
Comments (5)
  • This will be the same for miners in general. You should be out of GDX, GLD, SLV etc., and into stocks, any stocks, at least until the printing presses get turned off, then who knows. Once the presses get turned off there is no telling where the market is going. For now, keep buying stocks.

     

    Isn't it great that our government allows our markets to be so out of whack? You can not even determine companies fair value.
    30 Apr 2013, 02:38 PM Reply Like
  • Sorry gang, time to clean management house at Newmont.
    30 Apr 2013, 02:42 PM Reply Like
  • When they pegged the dividend to the price of gold that was the top. When the gimmicks start, get out.
    30 Apr 2013, 02:44 PM Reply Like
  • Is there blood in the streets yet?
    30 Apr 2013, 03:28 PM Reply Like
  • The weekly and monthly stochastics and rsi for NEM are at the same ultra low level as at the bottom of about 22 in late 2008, and most every intermediate bottom for a decade. Buy low, sell high. Long NEM at 32, hedged at 32.
    30 Apr 2013, 11:58 PM Reply Like
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