Newmont Mining (NYSE:NEM) Confirms Guidance

At a Thursday analyst day, Newmont Mining (NYSE:NEM) confirmed its 2010 production guidance of 5.3 million to 5.5 million ounces of gold at a cash cost of $450 to $480 an ounce.

Gold production at the gold miner will be maintained at levels of over 5 million annually, generating speculation as to whether the company may be looking to increase its acquisition activity.

Being flush with cash, Newmont is also may increase its regular dividend, and possibly issue a special dividend which would give more cash to the company's shareholders.

Analyst Tanya Jakusconek, from National Bank, increased her price target on Newmont Mining from $60 a share to $66 a share, while maintaining a “Sector Perform” rating.