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Saturday, June 26, 2010

Newmont Mining (NYSE:NEM) Surges on Strong Gold Prices

Newmont Mining (NYSE:NEM) performed during the week like the majority of their competitors, plunging on Monday, remaining level on Tuesday, Wednesday and Thursday, and then flying up in price on Friday.

They outperformed their major competitors for the week, Barrick Gold (NYSE:ABX) and Goldcorp (NYSE:GG), who had similar movements, just not as pronounced.

Goldcorp, even with their nice Friday move, was only able to get back to where they started with on Monday.

Newmont finished the week at $61.67, gaining $2.72 on the day, or 4.61 percent. They reached a 52-week high of $62.11 before pulling back slightly.

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