Newmont Corp [NYSE: NEM] gained 0.96% or 0.52 points to close at $54.82 with a heavy trading volume of 4990160 shares.
The daily chart for NEM points out that the company has recorded 42.61% gains over the past six months.
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If we look at the average trading volume of 7.52M shares, NEM reached to a volume of 4990160 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $59.13 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 1.83. 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.
Argus have made an estimate for Newmont Corp shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 29, 2024. While these analysts kept the previous recommendation, Scotiabank raised their target price from $48 to $59. The new note on the price target was released on August 19, 2024, representing the official price target for Newmont Corp stock. Previously, the target price had yet another raise to $61, while CIBC analysts kept a Sector Outperform rating on NEM stock.
The Average True Range (ATR) for Newmont Corp is set at 1.20, with the Price to Sales ratio for NEM stock in the period of the last 12 months amounting to 4.27. The Price to Book ratio for the last quarter was 2.15, with the Price to Cash per share for the same quarter was set at 2.32. Price to Free Cash Flow for NEM in the course of the last twelve months was 102.28 with Quick ratio for the last quarter at 1.73.
Trading performance analysis for NEM stock
Newmont Corp [NEM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.47. With this latest performance, NEM shares gained by 2.07% in over the last four-week period, additionally plugging by 42.61% over the last 6 months – not to mention a rise of 41.36% 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 60.90, with the RSI for the last a single of trading hit 63.96, and the three-weeks RSI is set at 60.18 for Newmont Corp [NEM]. The present Moving Average for the last 50 days of trading for this stock 52.02, while it was recorded at 53.60 for the last single week of trading, and 42.39 for the last 200 days.
Newmont Corp [NEM]: A deeper dive into fundamental analysis
Newmont Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.73 and a Current Ratio set at 2.11.
Newmont Corp [NEM]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Newmont Corp posted 0.36/share EPS, while the average EPS was predicted by analysts to be reported at 0.43/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -0.07. 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 25.10%.
An analysis of Institutional ownership at Newmont Corp [NEM]
There are presently around $73.05%, or 73.12%% of NEM stock, in the hands of institutional investors. The top three institutional holders of NEM stocks are: VANGUARD GROUP INC with ownership of 135.01 million shares, which is approximately 11.7095%. BLACKROCK INC., holding 119.25 million shares of the stock with an approximate value of $$4.99 billion in NEM stocks shares; and BLACKROCK INC., currently with $$2.13 billion in NEM stock with ownership which is approximately 4.4161%.
