Wednesday, December 2, 2020

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

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Newmont Corporation [NYSE: NEM] gained 0.47% or 0.29 points to close at $61.48 with a heavy trading volume of 5032752 shares. The company report on October 1, 2020 that Newmont Announces Third Quarter 2020 Earnings Call.

Newmont Corporation (NYSE: NEM, TSX: NGT) (Newmont or the Company) today announced it will report third quarter 2020 operations and financial results before the market opens on Thursday, October 29, 2020 and will hold a conference call at 12 p.m. Eastern Time (10:00 a.m. Mountain Time) the same day. The earnings call will also be carried on the Company’s website.


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Conference Call Details.

It opened the trading session at $61.67, the shares rose to $62.38 and dropped to $61.26, the range by which the price of stock traded the whole day. The daily chart for NEM points out that the company has recorded -1.54% loss over the past six months. However, it is still -86.3% lower than its most recent low trading price.

If we look at the average trading volume of 6.14M shares, NEM reached to a volume of 5032752 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $79.12 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 1.53, with the Price to Sales ratio for NEM stock in the period of the last 12 months amounting to 4.68. The Price to Book ratio for the last quarter was 2.24, with the Price to Cash per share for the same quarter was set at 5.10. Price to Free Cash Flow for NEM in the course of the last twelve months was 31.17 with Quick ratio for the last quarter at 2.40.

Trading performance analysis for NEM stock

Newmont Corporation [NEM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.94. With this latest performance, NEM shares dropped by -3.10% in over the last four-week period, additionally sinking by -1.54% over the last 6 months – not to mention a rise of 62.65% 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 42.97, with the RSI for the last a single of trading hit 40.93, and the three-weeks RSI is set at 44.18 for Newmont Corporation [NEM]. The present Moving Average for the last 50 days of trading for this stock 64.39, while it was recorded at 62.01 for the last single week of trading, and 57.30 for the last 200 days.

Newmont Corporation [NEM]: A deeper dive into fundamental analysis

Newmont Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.40 and a Current Ratio set at 2.80.

Newmont Corporation [NEM]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Newmont Corporation posted 0.36/share EPS, while the average EPS was predicted by analysts to be reported at 0.39/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -7.70%. 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 35.57%.

An analysis of insider ownership at Newmont Corporation [NEM]

There are presently around $39,930 million, or 84.20% of NEM stock, in the hands of institutional investors. The top three institutional holders of NEM stocks are: BLACKROCK INC. with ownership of 96,358,686, which is approximately -10.932% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 76,372,555 shares of the stock with an approximate value of $4.7 billion in NEM stocks shares; and VAN ECK ASSOCIATES CORP, currently with $2.42 billion in NEM stock with ownership of nearly 4.199% of the company’s market capitalization.

511 institutional holders increased their position in Newmont Corporation [NYSE:NEM] by around 54,959,311 shares. Additionally, 387 investors decreased positions by around 65,753,289 shares, while 102 investors held positions by with 528,770,065 shares. The mentioned changes placed institutional holdings at 649,482,665 shares, according to the latest SEC report filing. NEM stock had 183 new institutional investments in for a total of 15,718,170 shares, while 70 institutional investors sold positions of 3,649,794 shares during the same period.

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