In today’s recent session, 2,892,233 shares of the Newmont Corporation (NYSE:NEM) have been traded, and its beta is 0.26. Most recently the company’s share price was $62.14, and it changed around -$0.66 or -0.01% from the last close, which brings the market valuation of the company to $49.72 Billion. NEM at last check was trading at a discount to its 52-week high of $72.22, offering almost -16.22% off that amount. The share price’s 52-week low was $49.36, which indicates that the recent value has risen by an impressive 20.57% since then. We note from Newmont Corporation’s average daily trading volume that its 10-day average is 6.56 Million shares, with the 3-month average coming to 7.32 Million.
Newmont Corporation stock received a consensus recommendation rating of Overweight, based on a mean score of 2. If we narrow it down even further, the data shows that none out of 22 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 5 recommended NEM as a Hold, whereas 14 deemed it a Buy, and 1 rated it as Underweight. Newmont Corporation is expected to report earnings per share of $0.85 for the current quarter.
Newmont Corporation (NYSE:NEM): Trading Information Today
Although NEM has been showing red trend so far today with a performance of -1.05% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $63.43 on Tuesday, Apr 06 increased the stock’s daily price by 1.75%. The company’s shares are currently up 0.04% year-to-date, but still up 0.0407 over the last five days. On the other hand, Newmont Corporation (NYSE:NEM) is 0.1% up in the 30-day period. We can see from the shorts that 8.45 Million shares have been sold at a short interest cover period of 1.15 day (s).
The consensus price target as assigned by Wall Street analysts is $74.11, which translates to bears needing to increase their stock price by 19.26% from its current value. Analyst projections state that NEM is forecast to be at a low of $55 and a high of $85.69. In order for the stock price to hit the forecast high, the stock would need to surge +37.9% from its current level, while the stock would need to crash -11.49% from its current level to reach the projected low.
Newmont Corporation (NEM) projections and forecasts
Newmont Corporation share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +0.82 percent over the past six months. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +112.5% in revenue this quarter, and will report an increase of 175% in the next quarter. The year-over-year growth rate is expected to be 17.9%, up from the previous year.
Consensus estimates provided by 6 financial analysts predict the company will bring in an average of $3.33 Billion in revenue for the current quarter. 4 analysts expect Newmont Corporation to make $3.46 Billion in revenue for the quarter ending June 01, 2021. The company’s sales for the same quarters a year ago were $2.58 Billion and $2.41 Billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 29%. Forecasts for the next quarter put sales growth at 43.3%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 3.03%. Newmont Corporation earnings are expected to decrease by -15.3% in 2021, but the outlook is negative -1.24% per year for the next five years.
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NEM Dividend Yield
Newmont Corporation’s next quarterly earnings report is expected to be released around April 29, 2021. The annual dividend yield of the stock is 3.5 percent and its annual dividend per share was $2.2. It is important to note, however, that the 3.5% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 1.02% per year.
Newmont Corporation (NYSE:NEM)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 0.13% of Newmont Corporation shares, and 82.87% of them are in the hands of institutional investors. The stock currently has a share float of 82.98%. Newmont Corporation stock is held by 1576 institutions, with Blackrock Inc. being the largest institutional investor. By Dec 30, 2020, it held 11.69% of the shares, which is about 93.62 Million shares worth $5.61 Billion.
Vanguard Group, Inc. (The), with 9.16% or 73.36 Million shares worth $4.39 Billion as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
VanEck Vectors ETF Tr-Gold Miners ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Jan 30, 2021. The former held 33108031 shares worth $1.97 Billion, making up 4.13% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 22.65 Million shares worth around $1.36 Billion, which represents about 2.83% of the total shares outstanding.