Bernstein slashes price target on Newmont Corporation [NEM] – find out why.


Newmont Corporation [NYSE: NEM] slipped around -0.7 points on Friday, while shares priced at $51.39 at the close of the session, down -1.34%. The company report on July 22, 2022 that Newmont Declares Second Quarter Dividend of $0.55 Per Share.

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Newmont Corporation (NYSE: NEM, TSX: NGT) today announced that its Board of Directors declared a dividend of $0.55 per share of common stock for the second quarter of 2022, payable on September 22, 2022 to holders of record at the close of business on September 8, 2022.

The declaration and payment of future quarterly dividends remains at the discretion of the Board of Directors and will depend on the Company’s financial results, cash flow and cash requirements, future prospects, and other factors deemed relevant by the Board.1.

Newmont Corporation stock is now -17.14% down from its year-to-date (YTD) trading value. NEM Stock saw the intraday high of $53.16 and lowest of $50.835 per share. The company’s 52-week high price is 86.37, which means current price is +1.09% above from all time high which was touched on 04/18/22.

Compared to the average trading volume of 6.50M shares, NEM reached a trading volume of 11417076 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 $77.11 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 2.70. 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.

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 2.05, with the Price to Sales ratio for NEM stock in the period of the last 12 months amounting to 3.31. The Price to Book ratio for the last quarter was 1.90, with the Price to Cash per share for the same quarter was set at 5.45. Price to Free Cash Flow for NEM in the course of the last twelve months was 59.48 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 -6.10. With this latest performance, NEM shares dropped by -20.42% in over the last four-week period, additionally sinking by -19.50% over the last 6 months – not to mention a drop of -14.65% 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 20.31, with the RSI for the last a single of trading hit 13.62, and the three-weeks RSI is set at 25.32 for Newmont Corporation [NEM]. The present Moving Average for the last 50 days of trading for this stock 63.01, while it was recorded at 53.05 for the last single week of trading, and 64.47 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 +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.

Insider trade positions for Newmont Corporation [NEM]

There are presently around $32,763 million, or 83.50% of NEM stock, in the hands of institutional investors. The top three institutional holders of NEM stocks are: BLACKROCK INC. with ownership of 92,339,052, which is approximately 0.768% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 66,911,768 shares of the stock with an approximate value of $3.44 billion in NEM stocks shares; and STATE STREET CORP, currently with $2.09 billion in NEM stock with ownership of nearly 0.67% of the company’s market capitalization.

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 543 institutional holders increased their position in Newmont Corporation [NYSE:NEM] by around 60,817,052 shares. Additionally, 534 investors decreased positions by around 44,589,709 shares, while 156 investors held positions by with 532,126,514 shares. The mentioned changes placed institutional holdings at 637,533,275 shares, according to the latest SEC report filing. NEM stock had 146 new institutional investments in for a total of 6,507,273 shares, while 113 institutional investors sold positions of 3,906,389 shares during the same period.