Shares of Newmont Mining Corp (NYSE: NEM) are pushing to new intraday highs at the same time shares of its mining counterparts are selling off. Rio Tinto (NYSE: RIO), Freeport McMoRan (NYSE: FCX [FREE Stock Trend Analysis]), and Southern Copper have come off of their highs, as a slight selloff in all three names began around 10:30a.m Est.
Newmont hasn’t followed suit as the stock is showing serious signs of strength; putting in an intraday high of $54.98 within the past ten minutes. It is currently up 1.46% at 54.92; breaking through its 50-day moving average.
Read more: http://www.benzinga.com/trading-ideas/long-ideas/11/03/967189/newmont-mining-hitting-fresh-highs-nem-fcx-scco-rio#ixzz1II9V6fNR
