Newmont Corp (NYSE:NEM) traded at $48.42 at last check on current trade day and made an upward move of 1.49% on its previous day’s price.
Looking at the stock we see that its previous close was $47.71 with the day’s price range being $47.98 – $48.89. In terms of its 52-week price range, NEM has a high of $50.72 and a low of $29.42. The company’s stock has gained about 1.91% over that past 30 days.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Newmont Corp has a market cap of $55.56 billion. With its Forward Dividend at 1.30 and a yield of 2.68%, the company’s investors could be anxious for the NEM stock to gain ahead of the earnings release. Estimates by analysts give the company expected earnings per share (EPS) of 0.79, with the EPS growth for the year raised at 2.98 for current year and 2.98 for next year.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at 4.59B, with a low of 4.27B and a high of 5B. The median projection represents growth squeezing down to 58.30% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for current year is expected to hit 17.98B, or 52.20% up from figures reported last year.
Based on estimates by 14 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 4 have rated the Newmont Corp (NEM) stock as a Hold, while 10 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.
Looking further, we note the current price level is 1.81% off its SMA20 and 8.92% from its 50-day simple moving average. The RSI (14) is pointing at 58.48 while the volatility over the past week is 3.95% and jumps to 2.96% over the past one month. The beta value is 0.51, while the average true range (ATR) is currently pointing at 1.55. The average price target for the stock over the next 12 months is $61, with the estimates having a low of $48 and a high of $85.94073324. These price ends are 0.87% and -77.49% off the today’s price level respectively, although investors could be excited at the prospect of a -25.98% if the NEM share price touches on the median price of $61.
Coming back to Newmont Corp (NYSE:NEM), we note that the average 3-month trading volume was 7.87 million, while that of the preceding 10-day period stands at 8.19 million. Current shares outstanding are 1.15 billion.
The insiders hold 0.14% of the company’s shares while institutions hold 72.80%. The data shows that short shares as of 2024-07-15, stood at 17.31 million at a short ratio of 2.26. This represents a 192.00 short interest in shares outstanding on 2024-07-15. Shares short fall in July from the previous month at 17.37 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock 16.98% up in year-to-date price movement.
