Newmont Corp [NYSE: NEM] traded at a low on Friday, posting a -1.10 loss after which it closed the day’ session at $38.64.
The results of the trading session contributed to over 24218612 shares changing hands. Over the past one week, the price volatility of Newmont Corp stands at 3.87% while the volatility over the past one month is 3.14%.
The market cap for NEM stock reached $44.54 billion, with 1.15 billion shares outstanding and 1.15 billion shares in the current float. Compared to the average trading volume of 14.28M shares, NEM reached a trading volume of 24218612 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 Corp [NEM]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NEM shares is $45.19 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 1.29, with the Price to Sales ratio for NEM stock in the period of the last 12 months amounting to 3.78. The Price to Book ratio for the last quarter was 1.53, 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 459.21 with Quick ratio for the last quarter at 0.81.
How has NEM stock performed recently?
Newmont Corp [NEM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.55. With this latest performance, NEM shares gained by 12.42% in over the last four-week period, additionally sinking by -1.20% over the last 6 months – not to mention a drop of -22.27% 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 65.68, with the RSI for the last a single of trading hit 66.44, and the three-weeks RSI is set at 62.67 for Newmont Corp [NEM]. The present Moving Average for the last 50 days of trading for this stock 34.32, while it was recorded at 39.17 for the last single week of trading, and 38.03 for the last 200 days.
Newmont Corp [NEM]: Deeper insight into the 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.
Earnings analysis for Newmont Corp [NEM]
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 15.30%.
Insider trade positions for Newmont Corp [NEM]
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%.
