Newmont Corp (NYSE:NEM) price on current trading day, fall -2.85% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $40.23.
A look at the stock’s price movement, the level at last check in today’s session was $41.41, moving within a range at $40.115 and $41.59. The beta value (5-Year monthly) was 0.531. Turning to its 52-week performance, $58.72 and $29.42 were the 52-week high and 52-week low respectively. Overall, NEM moved -12.54% over the past month.
Newmont Corp’s market cap currently stands at around $45.80 billion, with investors looking forward to this quarter’s earnings report slated for in January. The company has a Forward Dividend ratio of 1.00, with its dividend yield at 2.49%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 5.18B for the company’s revenue for the quarter, with a low and high estimate of 4.98B and 5.35B respectively. The average forecast suggests up to a 30.90% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 18.4B, representing a 55.74% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that NEM is a 100% Sell. On the other hand, the stock is on average a Hold as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
14 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 4 analyst(s) rate the stock as a Hold, 10 recommend NEM as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
NEM’s current price about -4.78% and -16.58% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 29.18, while 7-day volatility ratio is 1.96% and 1.89% in the 30-day chart. Further, Newmont Corp (NEM) has a beta value of 0.50, and an average true range (ATR) of 1.13. Analysts have given the company’s stock an average 52-week price target of $58, forecast between a low of $53 and high of $63. Looking at the price targets, the low is -31.74% off recent price level in today’s trading while to achieve the yearly target high, it has to move -56.6%. Nonetheless, investors will most likely welcome a -44.17% jump to $58 which is the analysts’ median price.
If we refocus on Newmont Corp (NYSE:NEM), historical trading data shows that trading volumes averaged 9.4 over the past 10 days and 10.17 million over the past 3 months. The company’s latest data on shares outstanding shows there are 1.15 billion shares.
The 0.12% of Newmont Corp’s shares are in the hands of company insiders while institutional holders own 73.06% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 17.04 million on 2024-11-15, giving us a short ratio of 1.3. The data shows that as of 2024-11-15 short interest in Newmont Corp (NEM) stood at 191.0 of shares outstanding, with shares short falling to 18.29 million registered in 2024-10-15. Current price change has pushed the stock -2.80% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the NEM stock continues to rise going into the next quarter.
