Wall Street Analyst Upgrade Newmont Corporation [NEM]. What else is Wall St. saying

Newmont Corporation [NYSE: NEM] price plunged by -0.88 percent to reach at -$0.43. The company report on April 27, 2023 at 7:00 AM that Newmont Delivers on First Quarter 2023 Expectations, Remains on Track to Achieve Full Year Guidance; Declares $0.40 First Quarter Dividend.

Newmont Corporation (NYSE: NEM, TSX: NGT) (Newmont or the Company) today announced first quarter 2023 results and declared a first quarter dividend of $0.40 per share.

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Delivered First Quarter Production as Expected; Improving Production in Second Quarter*.

A sum of 5523972 shares traded at recent session while its average daily volume was at 8.57M shares. Newmont Corporation shares reached a high of $49.08 and dropped to a low of $48.15 until finishing in the latest session at $48.29.

The one-year NEM stock forecast points to a potential upside of 17.64. The average equity rating for NEM stock is currently 2.60, trading closer to a bullish pattern in the stock market.

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 $58.63 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 2.60. 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 Buy, with their previous recommendation back on March 13, 2023. The new note on the price target was released on February 24, 2023, representing the official price target for Newmont Corporation stock. Previously, the target price had yet another drop from $59 to $53, while UBS kept a Neutral rating on NEM stock.

The Average True Range (ATR) for Newmont Corporation is set at 1.40, with the Price to Sales ratio for NEM stock in the period of the last 12 months amounting to 3.36. 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 4.35.

NEM Stock Performance Analysis:

Newmont Corporation [NEM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.90. With this latest performance, NEM shares dropped by -7.22% in over the last four-week period, additionally plugging by 27.79% over the last 6 months – not to mention a drop of -33.25% 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 50.01, with the RSI for the last a single of trading hit 49.81, and the three-weeks RSI is set at 50.32 for Newmont Corporation [NEM]. The present Moving Average for the last 50 days of trading for this stock 47.36, while it was recorded at 48.39 for the last single week of trading, and 46.18 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 +13.57 and a Gross Margin at +17.94. Newmont Corporation’s Net Margin is presently recorded at -3.84.

Return on Total Capital for NEM is now 6.01, given the latest momentum, and Return on Invested Capital for the company is -1.71. Return on Equity for this stock declined to -2.22, with Return on Assets sitting at -1.16. When it comes to the capital structure of this company, Newmont Corporation [NEM] has a Total Debt to Total Equity ratio set at 32.28. Additionally, NEM Total Debt to Total Capital is recorded at 24.40, with Total Debt to Total Assets ending up at 16.24. Long-Term Debt to Equity for the company is recorded at 31.65, with the Long-Term Debt to Total Capital now at 23.93.

Reflecting on the efficiency of the workforce at the company, Newmont Corporation [NEM] managed to generate an average of -$14,167 per employee. Receivables Turnover for the company is 33.99 with a Total Asset Turnover recorded at a value of 0.30.Newmont Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.70 and a Current Ratio set at 2.40.

Newmont Corporation [NEM] Insider Position Details

There are presently around $29,741 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 92,124,821, which is approximately 1.104% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 69,210,466 shares of the stock with an approximate value of $3.34 billion in NEM stocks shares; and STATE STREET CORP, currently with $1.95 billion in NEM stock with ownership of nearly -0.705% of the company’s market capitalization.

Positions in Newmont Corporation stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 570 institutional holders increased their position in Newmont Corporation [NYSE:NEM] by around 34,275,842 shares. Additionally, 474 investors decreased positions by around 45,633,578 shares, while 151 investors held positions by with 535,970,779 shares. The mentioned changes placed institutional holdings at 615,880,199 shares, according to the latest SEC report filing. NEM stock had 144 new institutional investments in for a total of 5,157,768 shares, while 107 institutional investors sold positions of 5,851,665 shares during the same period.


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