Standpoint Research Downgrade Newmont Corporation [NEM]. What else is Wall St. saying?

Newmont Corporation [NYSE: NEM] closed the trading session at $55.53 on 06/18/20. The day’s price range saw the stock hit a low of $55.24, while the highest price level was $56.63. The stocks have a year to date performance of 27.80 percent and weekly performance of -0.91 percent. The stock has been moved at 37.21 percent over the last six months. The stock has performed -17.59 percent around the most recent 30 days and changed 33.04 percent over the most recent 3-months.

If compared to the average trading volume of 9.38M shares, NEM reached to a volume of 9727786 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Newmont Corporation [NEM]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NEM shares is $73.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NEM stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Standpoint Research have made an estimate for Newmont Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on May 18, 2020. The new note on the price target was released on April 16, 2020, representing the official price target for Newmont Corporation stock. Previously, the target price had yet another raise to $61, while JP Morgan analysts kept a Overweight rating on NEM stock.

The Average True Range (ATR) for Newmont Corporation is set at 2.62, with the Price to Sales ratio for NEM stock in the period of the last 12 months amounting to 4.28. The Price to Book ratio for the last quarter was 2.06, with the Price to Cash per share for the same quarter was set at 4.79. Price to Free Cash Flow for NEM in the course of the last twelve months was 60.87 with Quick ratio for the last quarter at 2.80.

NEM stock trade performance evaluation

Newmont Corporation [NEM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.91. With this latest performance, NEM shares dropped by -17.59% in over the last four-week period, additionally plugging by 37.21% over the last 6 months – not to mention a rise of 52.72% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NEM stock in for the last two-week period is set at 41.57, with the RSI for the last a single of trading hit 39.53, and the three-weeks RSI is set at 44.80 for Newmont Corporation [NEM]. The present Moving Average for the last 50 days of trading for this stock 60.31, while it was recorded at 55.87 for the last single week of trading, and 46.50 for the last 200 days.

Newmont Corporation [NEM]: An insightful look at the core fundamentals

Newmont Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.80 and a Current Ratio set at 3.30.

Earnings per share (EPS) analysis for Newmont Corporation [NEM] stock

With the latest financial reports released by the company, Newmont Corporation posted 0.12/share EPS, while the average EPS was predicted by analysts to be reported at 0.23/share.When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -47.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NEM. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Newmont Corporation go to 21.10%.

Newmont Corporation [NEM]: Insider Ownership positions

There are presently around $36,853 million, or 85.80% of NEM stock, in the hands of institutional investors. The top three institutional holders of NEM stocks are: BLACKROCK INC. with ownership of 108,185,291, which is approximately -3.617% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 94,198,990 shares of the stock with an approximate value of $5.24 billion in NEM stocks shares; and VAN ECK ASSOCIATES CORP, currently with $2.1 billion in NEM stock with ownership of nearly -3.83% of the company’s market capitalization.

389 institutional holders increased their position in Newmont Corporation [NYSE:NEM] by around 47,748,346 shares. Additionally, 370 investors decreased positions by around 52,948,699 shares, while 112 investors held positions by with 562,359,338 shares. The mentioned changes placed institutional holdings at 663,056,383 shares, according to the latest SEC report filing. NEM stock had 127 new institutional investments in for a total of 6,645,869 shares, while 60 institutional investors sold positions of 4,265,736 shares during the same period.

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