Newmont Corp [NYSE: NEM] price surged by 5.12 percent to reach at $1.93. The company report on April 4, 2024 at 7:06 PM that Newmont Completes $20 Million Global Community Support Fund, Partnering with Communities for Greater Resilience Post-Pandemic.
Global Community Support Fund demonstrates commitment to social responsibility and strengthening community engagement.
Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) proudly announces the successful completion of the $20 million Global Community Support Fund (the Fund), established in April 2020 in response to the unprecedented challenges posed by the global pandemic. The objective of this fund was to provide critical financial resources to host communities where Newmont operates, targeting funds to address immediate impacts of the global pandemic while catalyzing long-term resiliency and future community development.
The one-year NEM stock forecast points to a potential upside of 11.32. The average equity rating for NEM stock is currently 2.04, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Newmont Corp [NEM]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NEM shares is $44.71 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 2.04. 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.
Jefferies have made an estimate for Newmont Corp shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 29, 2024. The new note on the price target was released on February 26, 2024, representing the official price target for Newmont Corp stock.
The Average True Range (ATR) for Newmont Corp is set at 1.14, with the Price to Sales ratio for NEM stock in the period of the last 12 months amounting to 3.88. The Price to Book ratio for the last quarter was 1.57, with the Price to Cash per share for the same quarter was set at 2.63. Price to Free Cash Flow for NEM in the course of the last twelve months was 471.22 with Quick ratio for the last quarter at 0.81.
NEM Stock Performance Analysis:
Newmont Corp [NEM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.63. With this latest performance, NEM shares gained by 17.94% in over the last four-week period, additionally plugging by 11.91% over the last 6 months – not to mention a drop of -22.78% 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 76.16, with the RSI for the last a single of trading hit 84.88, and the three-weeks RSI is set at 69.18 for Newmont Corp [NEM]. The present Moving Average for the last 50 days of trading for this stock 33.85, while it was recorded at 37.56 for the last single week of trading, and 38.11 for the last 200 days.
Insight into Newmont Corp Fundamentals:
Newmont Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.81 and a Current Ratio set at 1.25.
NEM Stock EPS
With the latest financial reports released by the company, Newmont Corp posted 0.53/share EPS, while the average EPS was predicted by analysts to be reported at 0.42/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 26.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NEM. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Newmont Corp go to 12.10%.
Newmont Corp [NEM] Institutonal Ownership Details
The top three institutional holders of NEM stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in NEM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in NEM stock with ownership which is approximately 5.8386%.
