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Why Newmont Corp (NEM) Stock Could See Much Higher Prices Ahead

Newmont Corp (NYSE: NEM) is 6.04% higher on its value in year-to-date trading and has touched a low of $29.42 and a high of $45.92 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 $44.13 in the last trading session, with the day’s loss setting it -0.24%.

Currently trading at $43.89, the stock is 4.80% and 4.43% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.86 million and changing -0.54% at the moment leaves the stock 14.90% off its SMA200. NEM registered 3.91% gain for a year compared to 6-month gain of 8.80%.

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The stock witnessed a 3.27% loss in the last 1 month and extending the period to 3 months gives it a 11.40%, and is 5.38% 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 2.08% over the week and 2.04% over the month.

Newmont Corp (NEM) has around 40200 employees, a market worth around $50.61B and $13.12B in sales. Fwd P/E is 12.74. Profit margin for the company is -20.36%. Distance from 52-week low is 49.18% and -4.42% from its 52-week high. The company has generated returns on investments over the last 12 months (-6.98%).

The EPS is expected to grow by 69.69% this year.

Newmont Corp (NEM) Top Institutional Holders

The shares outstanding are 1.15B, and float is at 1.15B with Short Float at 1.51%.

Newmont Corp (NEM) Insider Activity

The most recent transaction is an insider sale by Palmer Thomas Ronald,the company’sPresident & CEO. SEC filings show that Palmer Thomas Ronald sold 13,000 shares of the company’s common stock on Jul 01 ’24 at a price of $42.13 per share for a total of $0.55 million. Following the sale, the insider now owns 0.33 million shares.

Newmont Corp disclosed in a document filed with the SEC on Jan 02 ’24 that Atkinson Robert D (EVP & COO) sold a total of 5,500 shares of the company’s common stock. The trade occurred on Jan 02 ’24 and was made at $41.26 per share for $0.23 million. Following the transaction, the insider now directly holds 54251.0 shares of the NEM stock.

Still, SEC filings show that on Dec 01 ’23, Atkinson Robert D (EVP & COO) disposed off 5,500 shares at an average price of $40.25 for $0.22 million. The insider now directly holds 59,751 shares of Newmont Corp (NEM).

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