Newmont Corporation (NYSE: NEM) is -5.38% lower 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 question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The NEM stock was last observed hovering at around $57.36 in the last trading session, with the day’s loss setting it -0.69% off its average median price target of $80.00 for the next 12 months. It is also 35.6% off the consensus price target high of $88.00 offered by 22 analysts, but current levels are -3.04% lower than the price target low of $55.00 for the same period.
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Currently trading at $56.67, the stock is -4.79% and -6.40% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 8.7 million and changing -1.20% at the moment leaves the stock -9.10% off its SMA200. NEM registered 17.82% gain for a year compared to 6-month loss of -14.11%. The firm has a 50-day simple moving average (SMA 50) of $60.72 and a 200-day simple moving average (SMA200) of $62.52.
The stock witnessed a -10.78% gain in the last 1 month and extending the period to 3 months gives it a -12.18%, and is -2.93% down 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 2.89% over the week and 2.79% over the month.
Newmont Corporation (NEM) has around 16600 employees, a market worth around $46.08B and $11.08B in sales. Current P/E ratio is 19.15 and Fwd P/E is 13.65. Profit margin for the company is 35.30%. Distance from 52-week low is 71.73% and -21.53% 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”. 22 analysts offering their recommendations for the stock have an average rating of 2.00, where 5 rate it as a Hold and 2 think it is a “Overweight”. 14 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 04/29/2021 and quarterly earnings per share for the current quarter are estimated at $0.99 with sales reaching $3.55B over the same period.The EPS is expected to grow by 800.20% this year, but quarterly earnings will post 22.20% year-over-year. Quarterly sales are estimated to grow 37.60% in year-over-year returns.
Newmont Corporation (NEM) Top Institutional Holders
1,522 institutions hold shares in Newmont Corporation (NEM), with 2.21M shares held by insiders accounting for 0.28% while institutional investors hold 84.35% of the company’s shares. The shares outstanding are 803.00M, and float is at 801.18M with Short Float at 1.09%. Institutions hold 84.11% of the Float.
The top institutional shareholder in the company is Blackrock Inc. with over 93.62 million shares valued at $5.61 billion. The investor’s holdings represent 11.65% of the NEM Shares outstanding. As of Sep 29, 2020, the second largest holder is Vanguard Group, Inc. (The) with 74.16 million shares valued at $4.71 billion to account for 9.23% of the shares outstanding. The other top investors are Van Eck Associates Corporation which holds 38.02 million shares representing 4.73% and valued at over $2.28 billion, while State Street Corporation holds 4.49% of the shares totaling 36.1 million with a market value of $2.29 billion.
Newmont Corporation (NEM) Insider Activity
A total of 35 insider transactions have happened at Newmont Corporation (NEM) in the last six months, with sales accounting for 34 and purchases happening 1 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 Feb 10 at a price of $60.73 per share for a total of $0.3 million. Following the sale, the insider now owns 0.26 million shares.
Newmont Corporation disclosed in a document filed with the SEC on Feb 01 that Palmer Thomas Ronald (President & CEO) sold a total of 5,150 shares of the company’s common stock. The trade occurred on Feb 01 and was made at $61.10 per share for $0.31 million. Following the transaction, the insider now directly holds 0.24 million shares of the NEM stock.
Still, SEC filings show that on Feb 01, Atkinson Robert D (EVP & COO) disposed off 1,347 shares at an average price of $61.10 for $82302.0. The insider now directly holds 82,906 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 -13.48% down over the past 12 months. Alcoa Corporation (AA) is 43.66% up on the 1-year trading charts. Short interest in the company’s stock has risen 26.21% from the last report on Dec 30, 2020 to stand at a total of 6.42 million short shares sold with a short interest ratio of 1.48.