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 804.00M, and float is at 792.00M with Short Float at 1.07%. 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 11.69% of the NEM Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 73.36 million shares valued at $4.39 billion to account for 9.16% of the shares outstanding. The other top investors are Van Eck Associates Corporation which holds 38.02 million shares representing 4.75% and valued at over $2.28 billion, while State Street Corporation holds 4.54% of the shares totaling 36.41 million with a market value of $2.18 billion.
Newmont Corporation (NYSE: NEM) is 3.79% higher on its value in year-to-date trading and has touched a low of $44.58 and a high of $72.22 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The NEM stock was last observed hovering at around $61.50 in the last trading session, with the day’s gains setting it 0.66% off its average median price target of $74.00 for the next 12 months. It is also 28.55% off the consensus price target high of $87.00 offered by 22 analysts, but current levels are -13.02% lower than the price target low of $55.00 for the same period.
Currently trading at $62.16, the stock is 5.23% and 4.97% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.09 million and changing 1.07% at the moment leaves the stock 0.34% off its SMA200. NEM registered 34.11% gain for a year compared to 6-month loss of 1.20%. The firm has a 50-day simple moving average (SMA 50) of $58.52 and a 200-day simple moving average (SMA200) of $61.13.
The stock witnessed a 14.31% gain in the last 1 month and extending the period to 3 months gives it a 2.78%, and is 2.09% 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 2.21% over the week and 2.65% over the month.
Newmont Corporation (NEM) has around 14300 employees, a market worth around $48.44B and $11.50B in sales. Current P/E ratio is 18.80 and Fwd P/E is 16.29. Profit margin for the company is 24.60%. Distance from 52-week low is 39.42% and -13.93% from its 52-week high. The company has generated returns on investments over the last 12 months (6.50%).
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 $0.86 with sales reaching $3.33B over the same period.The EPS is expected to shrink by -15.30% this year, but quarterly earnings will post 18.60% year-over-year. Quarterly sales are estimated to grow 29.00% in year-over-year returns.
Newmont Corporation (NEM) Insider Activity
A total of 86 insider transactions have happened at Newmont Corporation (NEM) in the last six months, with sales accounting for 70 and purchases happening 16 times. The most recent transaction is an insider sale by Gehring Dean, the company’s EVP & CTO. SEC filings show that Gehring Dean sold 3,500 shares of the company’s common stock on Mar 15 at a price of $60.00 per share for a total of $0.21 million. Following the sale, the insider now owns 23302.0 shares.
Newmont Corporation disclosed in a document filed with the SEC on Mar 10 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 Mar 10 and was made at $57.72 per share for $0.23 million. Following the transaction, the insider now directly holds 0.12 million shares of the NEM stock.
Still, SEC filings show that on Mar 10, Engel E Randall (EVP, Strategic Development) disposed off 5,000 shares at an average price of $57.72 for $0.29 million. The insider now directly holds 237,281 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 41.10% up over the past 12 months and Freeport-McMoRan Inc. (FCX) that is 417.74% higher over the same period. Alcoa Corporation (AA) is 389.16% up on the 1-year trading charts. Short interest in the company’s stock has risen 4.85% from the last report on Feb 11, 2021 to stand at a total of 8.04 million short shares sold with a short interest ratio of 1.08.