Newmont Corporation [NEM] Revenue clocked in at $12.11 billion, up 12.14% YTD: What’s Next?

Newmont Corporation [NYSE: NEM] stock went on an upward path that rose over 0.36% on Tuesday, amounting to a one-week price decrease of less than -0.86%. The company report on December 13, 2022 that Newmont Ranked Top Miner in 2022 Dow Jones Sustainability World Index.

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For the 15th year in a row, Newmont Corporation (NYSE: NEM, TSX: NGT) joins the Dow Jones Sustainability™ World Index (DJSI World), representing the top 10% of the largest 2,500 companies in the S&P Global Broad Market Index. DJSI World membership is based on long-term economic factors, as well as leading environmental, social and governance (ESG) performance evaluated through the 2022 S&P Global Corporate Sustainability Assessment (CSA).

In addition to being ranked number one in the Metals and Mining Industry, Newmont received the top score for the Governance and Environment dimensions and earned top decile performance in 23 of the 25 CSA performance categories. The ranking is based upon Newmont’s performance in calendar year 2022. As of December 9, 2022, the company achieved the highest score out of 147 metals and mining companies assessed in the CSA.

Over the last 12 months, NEM stock dropped by -11.58%. The one-year Newmont Corporation stock forecast points to a potential upside of 5.3. The average equity rating for NEM stock is currently 3.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $42.65 billion, with 794.00 million shares outstanding and 792.44 million shares in the current float. Compared to the average trading volume of 7.16M shares, NEM stock reached a trading volume of 7918716 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $55.89 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 3.00. 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.

Canaccord Genuity have made an estimate for Newmont Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on January 19, 2023. While these analysts kept the previous recommendation, Goldman raised their target price to Buy. The new note on the price target was released on September 12, 2022, representing the official price target for Newmont Corporation stock.

The Average True Range (ATR) for Newmont Corporation is set at 1.82, with the Price to Sales ratio for NEM stock in the period of the last 12 months amounting to 3.52. The Price to Book ratio for the last quarter was 1.98, with the Price to Cash per share for the same quarter was set at 4.73.

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 -0.86. With this latest performance, NEM shares gained by 11.76% in over the last four-week period, additionally plugging by 17.78% over the last 6 months – not to mention a drop of -11.58% 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 56.24, with the RSI for the last a single of trading hit 52.75, and the three-weeks RSI is set at 57.57 for Newmont Corporation [NEM]. The present Moving Average for the last 50 days of trading for this stock 49.15, while it was recorded at 53.64 for the last single week of trading, and 52.55 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 2.00 and a Current Ratio set at 2.70.

Newmont Corporation [NEM] Insider Position Details

There are presently around $32,930 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 91,118,622, which is approximately -3.016% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 68,435,452 shares of the stock with an approximate value of $3.62 billion in NEM stocks shares; and STATE STREET CORP, currently with $2.15 billion in NEM stock with ownership of nearly 0.248% of the company’s market capitalization.

Positions in Newmont Corporation stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 583 institutional holders increased their position in Newmont Corporation [NYSE:NEM] by around 58,792,278 shares. Additionally, 481 investors decreased positions by around 80,638,940 shares, while 119 investors held positions by with 482,707,468 shares. The mentioned changes placed institutional holdings at 622,138,686 shares, according to the latest SEC report filing. NEM stock had 121 new institutional investments in for a total of 4,267,370 shares, while 139 institutional investors sold positions of 40,507,487 shares during the same period.


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