Newmont Corporation (NYSE: NEM) is -31.47% lower on its value in year-to-date trading and has touched a low of $40.27 and a high of $86.37 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 $42.40 in the last trading session, with the day’s gains setting it 0.1% off its average median price target of $60.00 for the next 12 months. It is also 46.2% off the consensus price target high of $79.00 offered by 21 analysts, but current levels are 7.61% higher than the price target low of $46.00 for the same period.
Currently trading at $42.50, the stock is -0.84% and -6.93% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 7.65 million and changing 0.24% at the moment leaves the stock -31.37% off its SMA200. NEM registered -22.23% loss for a year compared to 6-month loss of -46.14%.
The stock witnessed a -4.60% gain in the last 1 month and extending the period to 3 months gives it a -32.39%, and is 0.24% 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 3.76% over the week and 3.02% over the month.
Newmont Corporation (NEM) has around 14400 employees, a market worth around $32.72B and $12.37B in sales. Current P/E ratio is 45.50 and Fwd P/E is 17.44. Profit margin for the company is 6.40%. Distance from 52-week low is 5.54% and -50.79% from its 52-week high. The company has generated returns on investments over the last 12 months (0.50%).
Newmont Corporation (NEM) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Newmont Corporation (NEM) is a “Overweight”. 21 analysts offering their recommendations for the stock have an average rating of 2.00, where 12 rate it as a Hold and 1 think it is a “Overweight”. 8 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 10/27/2022.The EPS is expected to shrink by -58.10% this year
Newmont Corporation (NEM) Top Institutional Holders
The shares outstanding are 794.00M, and float is at 792.34M with Short Float at 1.48%.
Newmont Corporation (NEM) Insider Activity
A total of 36 insider transactions have happened at Newmont Corporation (NEM) in the last six months, with sales accounting for 23 and purchases happening 13 times. The most recent transaction is an insider sale by Atkinson Robert D, the company’s EVP & COO. SEC filings show that Atkinson Robert D sold 3,000 shares of the company’s common stock on Sep 01 at a price of $40.79 per share for a total of $0.12 million. Following the sale, the insider now owns 45947.0 shares.
Newmont Corporation disclosed in a document filed with the SEC on Sep 01 that Palmer Thomas Ronald (President & CEO) sold a total of 11,000 shares of the company’s common stock. The trade occurred on Sep 01 and was made at $40.79 per share for $0.45 million. Following the transaction, the insider now directly holds 0.24 million shares of the NEM stock.
Still, SEC filings show that on Aug 01, Atkinson Robert D (EVP & COO) disposed off 3,000 shares at an average price of $45.35 for $0.14 million. The insider now directly holds 48,947 shares of Newmont Corporation (NEM).
Newmont Corporation (NEM): Who are the competitors?
The company’s main competitors (and peers) include Franco-Nevada Corporation (FNV) that is -12.66% lower over the past 12 months. Agnico Eagle Mines Limited (AEM) is -21.69% down on the 1-year trading charts.