Newmont Corporation [NEM] gain 23.56% so far this year. What now?

Newmont Corporation [NYSE: NEM] gained 4.59% or 3.25 points to close at $74.00 with a heavy trading volume of 17572939 shares. The company report on May 17, 2021 that GT Gold Corp. Announces Completion of Acquisition by Newmont Corporation.

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GT Gold Corp. (TSX-V:GTT; OTCQX:GTGDF) (the “Company” or “GT Gold”) is pleased to announce the successful completion of the previously-announced plan of arrangement with Newmont Corporation i under the Business Corporations Act (British Columbia) (the “Arrangement”). Pursuant to the Arrangement, Newmont has acquired the remaining 85.1% of the outstanding common shares of the Company not already owned by Newmont or its affiliates. Upon completion of the Arrangement, GT Gold became an indirect wholly-owned subsidiary of Newmont.

“Newmont is excited to have the Tatogga project in the highly-sought after Golden Triangle district of British Columbia, Canada, become part of our world-class portfolio and part of our future,” said Newmont President and CEO Tom Palmer. “We look forward to continuing to build a respectful and meaningful relationship with the Tahltan Nation, including the community of Iskut. The relationships we have with Indigenous communities, First Nations and host communities are critical to the way we operate, and we look forward to partnering with the Tahltan Nation at all levels, and with the Government of British Columbia to ensure a shared path forward as we understand that Tahltan consent is necessary for advancing the project.”.

It opened the trading session at $71.25, the shares rose to $74.235 and dropped to $70.7102, the range by which the price of stock traded the whole day. The daily chart for NEM points out that the company has recorded 13.81% gains over the past six months. However, it is still -41.41% lower than its most recent low trading price.

If we look at the average trading volume of 7.14M shares, NEM reached to a volume of 17572939 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 $74.30 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.

JP Morgan have made an estimate for Newmont Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on February 10, 2021. The new note on the price target was released on May 18, 2020, representing the official price target for Newmont Corporation stock. Previously, the target price had yet another raise to $58, while Barclays analysts kept a Equal Weight rating on NEM stock.

The Average True Range (ATR) for Newmont Corporation is set at 1.84, with the Price to Sales ratio for NEM stock in the period of the last 12 months amounting to 4.90. The Price to Book ratio for the last quarter was 2.56, with the Price to Cash per share for the same quarter was set at 7.38. Price to Free Cash Flow for NEM in the course of the last twelve months was 25.66 with Quick ratio for the last quarter at 1.90.

Trading performance analysis for NEM stock

Newmont Corporation [NEM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.27. With this latest performance, NEM shares gained by 13.13% in over the last four-week period, additionally plugging by 13.81% over the last 6 months – not to mention a rise of 8.98% 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 76.97, with the RSI for the last a single of trading hit 82.71, and the three-weeks RSI is set at 72.49 for Newmont Corporation [NEM]. The present Moving Average for the last 50 days of trading for this stock 63.31, while it was recorded at 70.06 for the last single week of trading, and 62.53 for the last 200 days.

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

Operating Margin for any stock indicates how profitable investing would be, and Newmont Corporation [NEM] shares currently have an operating margin of +25.96 and a Gross Margin at +31.08. Newmont Corporation’s Net Margin is presently recorded at +23.35.

Return on Total Capital for NEM is now 9.88, given the latest momentum, and Return on Invested Capital for the company is 9.30. Return on Equity for this stock inclined to 12.00, with Return on Assets sitting at 6.55. When it comes to the capital structure of this company, Newmont Corporation [NEM] has a Total Debt to Total Equity ratio set at 29.60. Additionally, NEM Total Debt to Total Capital is recorded at 22.84, with Total Debt to Total Assets ending up at 16.46. Long-Term Debt to Equity for the company is recorded at 26.67, with the Long-Term Debt to Total Capital now at 20.58.

Reflecting on the efficiency of the workforce at the company, Newmont Corporation [NEM] managed to generate an average of $95,899 per employee. Receivables Turnover for the company is 27.78 with a Total Asset Turnover recorded at a value of 0.28.Newmont Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.90 and a Current Ratio set at 2.40.

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

With the latest financial reports released by the company, Newmont Corporation posted 0.32/share EPS, while the average EPS was predicted by analysts to be reported at 0.31/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 3.20%. 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 3.00%.

An analysis of insider ownership at Newmont Corporation [NEM]

There are presently around $47,181 million, or 83.10% of NEM stock, in the hands of institutional investors. The top three institutional holders of NEM stocks are: BLACKROCK INC. with ownership of 95,698,665, which is approximately 2.218% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 77,761,976 shares of the stock with an approximate value of $5.75 billion in NEM stocks shares; and VAN ECK ASSOCIATES CORP, currently with $2.94 billion in NEM stock with ownership of nearly 4.347% of the company’s market capitalization.

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Positions in Newmont Corporation stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 539 institutional holders increased their position in Newmont Corporation [NYSE:NEM] by around 47,341,073 shares. Additionally, 440 investors decreased positions by around 41,187,809 shares, while 129 investors held positions by with 549,047,291 shares. The mentioned changes placed institutional holdings at 637,576,173 shares, according to the latest SEC report filing. NEM stock had 131 new institutional investments in for a total of 4,757,051 shares, while 107 institutional investors sold positions of 3,680,891 shares during the same period.

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