Newmont Corporation [NEM] moved down -0.95: Why It’s Important

Newmont Corporation [NYSE: NEM] slipped around -0.41 points on Monday, while shares priced at $42.81 at the close of the session, down -0.95%. The company report on August 23, 2022 that Newmont Publishes Inaugural Taxes and Royalties Contribution Report.


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Today, Newmont Corporation (NYSE: NEM, TSX: NGT) published its inaugural Taxes and Royalties Contribution Report (the report), continuing the Company’s commitment to transparency by detailing the significant contributions made to host communities and governments.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220822005732/en/.

Newmont Corporation stock is now -30.97% down from its year-to-date (YTD) trading value. NEM Stock saw the intraday high of $43.74 and lowest of $42.74 per share. The company’s 52-week high price is 86.37, which means current price is +0.16% above from all time high which was touched on 04/18/22.

Compared to the average trading volume of 8.39M shares, NEM reached a trading volume of 10217177 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 $63.78 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.

National Bank Financial have made an estimate for Newmont Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 27, 2022. While these analysts kept the previous recommendation, Canaccord Genuity dropped their target price from $66 to $60. The new note on the price target was released on July 27, 2022, representing the official price target for Newmont Corporation stock. Previously, the target price had yet another raise to $57, while Bernstein analysts kept a Mkt Perform rating on NEM stock.

The Average True Range (ATR) for Newmont Corporation is set at 1.46, with the Price to Sales ratio for NEM stock in the period of the last 12 months amounting to 2.87. The Price to Book ratio for the last quarter was 1.59, with the Price to Cash per share for the same quarter was set at 5.26. Price to Free Cash Flow for NEM in the course of the last twelve months was 55.80 with Quick ratio for the last quarter at 2.10.

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 -2.30. With this latest performance, NEM shares dropped by -5.45% in over the last four-week period, additionally sinking by -35.33% over the last 6 months – not to mention a drop of -26.43% 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 29.92, with the RSI for the last a single of trading hit 30.04, and the three-weeks RSI is set at 29.87 for Newmont Corporation [NEM]. The present Moving Average for the last 50 days of trading for this stock 51.74, while it was recorded at 44.10 for the last single week of trading, and 63.03 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 2.10 and a Current Ratio set at 2.80.

Insider trade positions for Newmont Corporation [NEM]

There are presently around $27,933 million, or 85.00% of NEM stock, in the hands of institutional investors. The top three institutional holders of NEM stocks are: BLACKROCK INC. with ownership of 93,952,017, which is approximately 1.747% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 67,874,259 shares of the stock with an approximate value of $2.91 billion in NEM stocks shares; and STATE STREET CORP, currently with $1.73 billion in NEM stock with ownership of nearly -0.363% 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 552 institutional holders increased their position in Newmont Corporation [NYSE:NEM] by around 50,059,763 shares. Additionally, 535 investors decreased positions by around 34,172,872 shares, while 164 investors held positions by with 568,263,453 shares. The mentioned changes placed institutional holdings at 652,496,088 shares, according to the latest SEC report filing. NEM stock had 110 new institutional investments in for a total of 7,387,894 shares, while 150 institutional investors sold positions of 5,195,111 shares during the same period.

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