Newmont Corp (NYSE:NEM) price on current trading day, rose 1.67% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $42.06.
A look at the stock’s price movement, the level at last check in today’s session was $41.37, moving within a range at $41.58 and $42.1. 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 4.57% over the past month.
Newmont Corp’s market cap currently stands at around $47.88 billion, with investors looking forward to this quarter’s earnings report slated for in February. The company has a Forward Dividend ratio of 1.00, with its dividend yield at 2.38%. 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 5.37B for the company’s revenue for the quarter, with a low and high estimate of 5.11B and 6.22B respectively. The average forecast suggests up to a 35.73% 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 18.31B, representing a 55.03% 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 50% Sell. On the other hand, the stock is on average a 50% Sell 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 8.85% and 2.92% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 63.75, while 7-day volatility ratio is 2.75% and 2.30% in the 30-day chart. Further, Newmont Corp (NEM) has a beta value of 0.52, and an average true range (ATR) of 0.99. Analysts have given the company’s stock an average 52-week price target of $57.5, forecast between a low of $53 and high of $63. Looking at the price targets, the low is -26.01% off recent price level in today’s trading while to achieve the yearly target high, it has to move -49.79%. Nonetheless, investors will most likely welcome a -36.71% jump to $57.5 which is the analysts’ median price.
If we refocus on Newmont Corp (NYSE:NEM), historical trading data shows that trading volumes averaged 8.93 over the past 10 days and 11.05 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 73.24% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 19.6 million on 2024-12-31, giving us a short ratio of 1.94. The data shows that as of 2024-12-31 short interest in Newmont Corp (NEM) stood at 219.99999999999997 of shares outstanding, with shares short rising to 16.74 million registered in 2024-11-29. Current price change has pushed the stock 13.00% 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.
