Newmont Corporation [NEM] Is Currently -0.94 below its 200 Period Moving Avg: What Does This Mean?


Newmont Corporation [NYSE: NEM] traded at a low on 05/10/22, posting a -0.94 loss after which it closed the day’ session at $68.27. The company report on April 22, 2022 that Newmont Announces First Quarter 2022 Results.

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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.

The results of the trading session contributed to over 7215722 shares changing hands. Over the past one week, the price volatility of Newmont Corporation stands at 3.72% while the volatility over the past one month is 3.38%.

The market cap for NEM stock reached $53.79 billion, with 793.00 million shares outstanding and 792.40 million shares in the current float. Compared to the average trading volume of 8.38M shares, NEM reached a trading volume of 7215722 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]?

Bernstein have made an estimate for Newmont Corporation shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on April 25, 2022. The new note on the price target was released on April 20, 2022, representing the official price target for Newmont Corporation stock.

The Average True Range (ATR) for Newmont Corporation is set at 2.76, with the Price to Sales ratio for NEM stock in the period of the last 12 months amounting to 4.35. The Price to Book ratio for the last quarter was 2.52, with the Price to Cash per share for the same quarter was set at 5.51. Price to Free Cash Flow for NEM in the course of the last twelve months was 78.07 with Quick ratio for the last quarter at 2.20.

How has NEM stock performed recently?

Newmont Corporation [NEM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.50. With this latest performance, NEM shares dropped by -16.87% in over the last four-week period, additionally plugging by 21.50% over the last 6 months – not to mention a drop of -0.74% 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 30.73, with the RSI for the last a single of trading hit 23.70, and the three-weeks RSI is set at 36.82 for Newmont Corporation [NEM]. The present Moving Average for the last 50 days of trading for this stock 76.52, while it was recorded at 71.16 for the last single week of trading, and 63.11 for the last 200 days.

Newmont Corporation [NEM]: Deeper insight into the fundamentals

Newmont Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 2.90.

Insider trade positions for Newmont Corporation [NEM]

There are presently around $42,332 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 $4.53 billion in NEM stocks shares; and STATE STREET CORP, currently with $2.78 billion in NEM stock with ownership of nearly 1.552% of the company’s market capitalization.

556 institutional holders increased their position in Newmont Corporation [NYSE:NEM] by around 37,521,592 shares. Additionally, 492 investors decreased positions by around 42,319,073 shares, while 161 investors held positions by with 534,371,807 shares. The mentioned changes placed institutional holdings at 614,212,472 shares, according to the latest SEC report filing. NEM stock had 166 new institutional investments in for a total of 3,565,325 shares, while 97 institutional investors sold positions of 2,095,865 shares during the same period.