Newmont Corporation [NYSE: NEM] stock went on a downward path that fall over -3.30% on Friday, amounting to a one-week price decrease of less than -12.09%. The company report on April 22, 2022 that Newmont Announces First Quarter 2022 Results.
Newmont announces solid first quarter results; well-positioned to deliver a strong second half and long-term value from top-tier mining jurisdictions.
Newmont Corporation (NYSE: NEM, TSX: NGT) (Newmont or the Company) today announced first quarter 2022 results.
Over the last 12 months, NEM stock rose by 13.39%. The one-year Newmont Corporation stock forecast points to a potential upside of 7.31.
The market cap for the stock reached $65.46 billion, with 796.00 million shares outstanding and 791.33 million shares in the current float. Compared to the average trading volume of 8.44M shares, NEM stock reached a trading volume of 12369539 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Newmont Corporation [NEM]:
National Bank Financial have made an estimate for Newmont Corporation shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on April 20, 2022. The new note on the price target was released on April 19, 2022, representing the official price target for Newmont Corporation stock. Previously, the target price had yet another raise to $65, while Canaccord Genuity analysts kept a Hold rating on NEM stock.
The Average True Range (ATR) for Newmont Corporation is set at 2.93, with the Price to Sales ratio for NEM stock in the period of the last 12 months amounting to 5.36. The Price to Book ratio for the last quarter was 2.69, with the Price to Cash per share for the same quarter was set at 5.78. Price to Free Cash Flow for NEM in the course of the last twelve months was 46.26 with Quick ratio for the last quarter at 2.20.
NEM Stock Performance Analysis:
Newmont Corporation [NEM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.09. With this latest performance, NEM shares dropped by -5.56% in over the last four-week period, additionally plugging by 30.33% over the last 6 months – not to mention a rise of 13.39% 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 39.15, with the RSI for the last a single of trading hit 29.64, and the three-weeks RSI is set at 45.31 for Newmont Corporation [NEM]. The present Moving Average for the last 50 days of trading for this stock 75.02, while it was recorded at 80.49 for the last single week of trading, and 62.50 for the last 200 days.
Insight into Newmont Corporation Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Newmont Corporation [NEM] shares currently have an operating margin of +15.72 and a Gross Margin at +19.49. Newmont Corporation’s Net Margin is presently recorded at +9.10.
Return on Equity for this stock inclined to 4.93, with Return on Assets sitting at 2.71.
Newmont Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 2.90.
Newmont Corporation [NEM] Insider Position Details
There are presently around $46,474 million, or 81.70% of NEM stock, in the hands of institutional investors. The top three institutional holders of NEM stocks are: BLACKROCK INC. with ownership of 91,635,497, which is approximately -0.579% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 65,686,310 shares of the stock with an approximate value of $4.89 billion in NEM stocks shares; and STATE STREET CORP, currently with $3.01 billion in NEM stock with ownership of nearly 1.552% of the company’s market capitalization.
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 553 institutional holders increased their position in Newmont Corporation [NYSE:NEM] by around 40,908,847 shares. Additionally, 486 investors decreased positions by around 34,787,304 shares, while 143 investors held positions by with 547,943,823 shares. The mentioned changes placed institutional holdings at 623,639,974 shares, according to the latest SEC report filing. NEM stock had 175 new institutional investments in for a total of 4,014,290 shares, while 94 institutional investors sold positions of 4,203,868 shares during the same period.