Newmont Corp (NYSE:NEM) price on current trading day, fall -2.53% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $46.55.
A look at the stock’s price movement, the level at last check in today’s session was $47.76, moving within a range at $46.47 and $47.3. The beta value (5-Year monthly) was 0.556 while the PE ratio in trailing twelve months stood at 15.94. Turning to its 52-week performance, $58.72 and $33.77 were the 52-week high and 52-week low respectively. Overall, NEM moved -3.20% over the past month.
Newmont Corp’s market cap currently stands at around $52.46 billion, with investors looking forward to this quarter’s earnings report slated for on 2025-Feb-19. The company has a Forward Dividend ratio of 1.00, with its dividend yield at 2.15%. 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 4.82B for the company’s revenue for the quarter, with a low and high estimate of 4.72B and 4.98B respectively. The average forecast suggests up to a 19.76% 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 18.48B, representing a -1.08% decline 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% Buy. 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% Buy 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 4.49% and 6.08% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 57.32, while 7-day volatility ratio is 2.35% and 3.33% in the 30-day chart. Further, Newmont Corp (NEM) has a beta value of 0.58, and an average true range (ATR) of 1.38. Analysts have given the company’s stock an average 52-week price target of $54, forecast between a low of $53 and high of $63. Looking at the price targets, the low is -13.86% off recent price level in today’s trading while to achieve the yearly target high, it has to move -35.34%. Nonetheless, investors will most likely welcome a -16.0% jump to $54 which is the analysts’ median price.
If we refocus on Newmont Corp (NYSE:NEM), historical trading data shows that trading volumes averaged 9.64 over the past 10 days and 9.66 million over the past 3 months. The company’s latest data on shares outstanding shows there are 1.13 billion shares.
The 0.13% of Newmont Corp’s shares are in the hands of company insiders while institutional holders own 73.56% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 19.41 million on 2025-02-28, giving us a short ratio of 1.72. The data shows that as of 2025-02-28 short interest in Newmont Corp (NEM) stood at 221.0 of shares outstanding, with shares short rising to 16.48 million registered in 2025-01-31. Current price change has pushed the stock 25.07% 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.
