Newmont Corporation [NEM] is -3.64% lower this YTD. Is it still time to buy?

Newmont Corporation [NYSE: NEM] traded at a high on 09/15/21, posting a 0.89 gain after which it closed the day’ session at $57.71. The company report on July 29, 2021 that NOVAGOLD Receives $75 Million from Newmont Corporation.

Second payment for the sale of NOVAGOLD’s 50% interest in the Galore Creek project.

Treasury exceeds $150 million.

The results of the trading session contributed to over 3965514 shares changing hands. Over the past one week, the price volatility of Newmont Corporation stands at 1.48% while the volatility over the past one month is 1.77%.

The market cap for NEM stock reached $46.38 billion, with 801.00 million shares outstanding and 796.16 million shares in the current float. Compared to the average trading volume of 5.81M shares, NEM reached a trading volume of 3965514 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $74.37 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 1.05, with the Price to Sales ratio for NEM stock in the period of the last 12 months amounting to 3.71. The Price to Book ratio for the last quarter was 1.99, with the Price to Cash per share for the same quarter was set at 5.98. Price to Free Cash Flow for NEM in the course of the last twelve months was 21.00 with Quick ratio for the last quarter at 2.00.

How has NEM stock performed recently?

Newmont Corporation [NEM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.26. With this latest performance, NEM shares dropped by -1.99% in over the last four-week period, additionally sinking by -8.35% over the last 6 months – not to mention a drop of -14.57% 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 45.83, with the RSI for the last a single of trading hit 48.58, and the three-weeks RSI is set at 44.12 for Newmont Corporation [NEM]. The present Moving Average for the last 50 days of trading for this stock 59.71, while it was recorded at 57.25 for the last single week of trading, and 62.12 for the last 200 days.

Newmont Corporation [NEM]: Deeper insight into the fundamentals

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 2.00 and a Current Ratio set at 2.70.

Earnings analysis for Newmont Corporation [NEM]

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 -1.60%.

Insider trade positions for Newmont Corporation [NEM]

There are presently around $36,778 million, or 82.30% of NEM stock, in the hands of institutional investors. The top three institutional holders of NEM stocks are: BLACKROCK INC. with ownership of 91,759,511, which is approximately -4.116% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 66,198,736 shares of the stock with an approximate value of $3.82 billion in NEM stocks shares; and VAN ECK ASSOCIATES CORP, currently with $2.3 billion in NEM stock with ownership of nearly 0.638% of the company’s market capitalization.

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Positions in Newmont Corporation stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 555 institutional holders increased their position in Newmont Corporation [NYSE:NEM] by around 52,271,123 shares. Additionally, 417 investors decreased positions by around 50,459,323 shares, while 148 investors held positions by with 534,559,447 shares. The mentioned changes placed institutional holdings at 637,289,893 shares, according to the latest SEC report filing. NEM stock had 118 new institutional investments in for a total of 16,349,069 shares, while 75 institutional investors sold positions of 2,680,183 shares during the same period.

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