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NEW YORK ( TheStreet) -- Newmont Mining Corporation (NYSE: NEM) hit a new 52-week low Thursday as it is currently trading at $50.90, below its previous 52-week low of $51.10 with 818,141 shares traded as of 9:40 a.m. ET. Average volume has been six million shares over the past 30 days. Newmont has a market cap of $28.06 billion and is part of the basic materials sector and metals & mining industry. Shares are down 14.2% year to date as of the close of trading on Wednesday. Newmont Mining Corporation, together with its subsidiaries, engages in the acquisition, exploration, and production of gold and copper properties. The company's assets or operations are located in the United States, Australia, Peru, Indonesia, Ghana, New Zealand, and Mexico. The company has a P/E ratio of 52.5, above the average metals & mining industry P/E ratio of 13.1 and above the S&P 500 P/E ratio of 17.7.