Newmont Corporation (NEM) – Don’t Believe the Hype: Check The Facts

Newmont Corporation (NYSE: NEM) is 54.25% higher on its value in year-to-date trading and has touched a low of $33.00 and a high of $72.22 in the current 52-week trading range. The NEM stock was last observed hovering at around $67.28 in the last trading session, with the day’s loss setting it -0.26% off its average median price target of $78.50 for the next 12 months. It is also 25.53% off the consensus price target high of $90.00 offered by 20 analysts, but current levels are -9.87% lower than the price target low of $61.00 for the same period.

Currently trading at $67.02, the stock is 0.73% and 3.99% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.14 million and changing -0.39% at the moment leaves the stock 26.29% off its SMA200. NEM registered 65.93% gain for a year compared to 6-month gain of 31.41%. The firm has a 50-day simple moving average (SMA 50) of $65.93 and a 200-day simple moving average (SMA200) of $58.13.

The stock witnessed a -1.66% loss in the last 1 month and extending the period to 3 months gives it a 19.64%, and is 3.33% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.36% over the week and 3.26% over the month.

Newmont Corporation (NEM) has around 16600 employees, a market worth around $52.25B and $10.63B in sales. Current P/E ratio is 13.65 and Fwd P/E is 17.15. Profit margin for the company is 36.80%. Distance from 52-week low is 103.09% and -7.20% from its 52-week high. The company has generated returns on investments over the last 12 months (10.10%).

Newmont Corporation (NEM) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Newmont Corporation (NEM) is a “Overweight”. 20 analysts offering their recommendations for the stock have an average rating of 2.00, where 5 rate it as a Hold and 1 think it is a “Overweight”. 13 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Newmont Corporation is expected to release its quarterly report on 10/22/2020 and quarterly earnings per share for the current quarter are estimated at $0.77 with sales reaching $3.26B over the same period.The EPS is expected to grow by 800.20% this year, but quarterly earnings will post 18.20% year-over-year. Quarterly sales are estimated to grow 20.10% in year-over-year returns.

Newmont Corporation (NEM) Top Institutional Holders

1,248 institutions hold shares in Newmont Corporation (NEM), with 3.05M shares held by insiders accounting for 0.38% while institutional investors hold 86.25% of the company’s shares. The shares outstanding are 803.00M, and float is at 800.80M with Short Float at 1.21%. Institutions hold 85.93% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 96.36 million shares valued at $5.95 billion. The investor’s holdings represent 12.00% of the NEM Shares outstanding. As of Jun 29, 2020, the second largest holder is Vanguard Group, Inc. (The) with 76.37 million shares valued at $4.72 billion to account for 9.51% of the shares outstanding. The other top investors are Van Eck Associates Corporation which holds 39.36 million shares representing 4.90% and valued at over $2.43 billion, while State Street Corporation holds 4.61% of the shares totaling 37.01 million with a market value of $2.28 billion.

Newmont Corporation (NEM) Insider Activity

A total of 62 insider transactions have happened at Newmont Corporation (NEM) in the last six months, with sales accounting for 45 and purchases happening 17 times. The most recent transaction is an insider sale by Engel E Randall, the company’s EVP, Strategic Development. SEC filings show that Engel E Randall sold 5,000 shares of the company’s common stock on Aug 12 at a price of $64.50 per share for a total of $0.32 million. Following the sale, the insider now owns 0.29 million shares.

Newmont Corporation disclosed in a document filed with the SEC on Aug 12 that Gottesfeld Stephen P (EVP and Chief S&EA Officer) sold a total of 4,000 shares of the company’s common stock. The trade occurred on Aug 12 and was made at $64.50 per share for $0.26 million. Following the transaction, the insider now directly holds 0.13 million shares of the NEM stock.

Still, SEC filings show that on Aug 03, Kitlen John (VP, Controller & CAO) disposed off 2,000 shares at an average price of $69.20 for $0.14 million. The insider now directly holds 41,742 shares of Newmont Corporation (NEM).

Newmont Corporation (NEM): Who are the competitors?

The company’s main competitors (and peers) include Compania de Minas Buenaventura S.A.A. (BVN) that is trading -6.92% down over the past 12 months. Alcoa Corporation (AA) is -14.31% down on the 1-year trading charts. Short interest in the company’s stock has fallen -11.1% from the last report on Jul 14, 2020 to stand at a total of 10.81 million short shares sold with a short interest ratio of 1.32.