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NEM Crosses Below Key Price/Book Valuation Level
By: BNK Invest
In trading on Friday, shares of Newmont Mining Corp. (Symbol: NEM) crossed below their last reported book value - defined as common shareholder equity per share - of $23.39, changing hands as low as $22.71 per share. Newmont Mining Corp. shares are currently trading down about 4.4% on the day. The chart below shows the one year performance of NEM shares, versus its 50 and 200 day moving averages:
Looking at the chart above, NEM's low point in its 52 week range is $20.785 per share, with $42.00 as the 52 week high point - that compares with a last trade of $23.38.
According to the ETF Finder at ETF Channel, NEM makes up 8.84% of the iShares MSCI Global Gold Miners ETF (Symbol: RING) which is trading relatively unchanged on the day Friday.