In the last trading session, 8.89 million Newmont Corporation (NYSE:NEM) shares changed hands as the company’s beta touched 0.32. With the company’s per share price at $62.92 changed hands at -$0.51 or -0.80% during last session, the market valuation stood at $51.25B. NEM’s last price was a discount, traded about -19.69% off its 52-week high of $75.31. The share price had its 52-week low at $54.18, which suggests the last value was 13.89% up since then. When we look at Newmont Corporation’s average trading volume, we note the 10-day average is 10.35 million shares, with the 3-month average coming to 6.86 million.
Analysts gave the Newmont Corporation (NEM) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.00. If we narrow down to specifics, the data shows that 0 out of 20 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 5 recommended NEM as a Hold, 12 felt it is a Buy and 1 rated the stock as Underweight. Newmont Corporation’s EPS for the current quarter is expected to be $0.75.
Newmont Corporation (NYSE:NEM) trade information
Instantly NEM was in red as seen at the end of in last trading. With action -8.92%, the performance over the past five days has been red. The drop to weekly highs of 69.67 on Tuesday, 06/22/21 subtracted -0.80% to the stock’s daily price. The company’s shares are showing year-to-date upside of 5.06%, with the 5-day performance at -8.92% in the red. However, in the 30-day time frame, Newmont Corporation (NYSE:NEM) is -14.43% down. Looking at the short shares, we see there were 12.22 million shares sold at short interest cover period of 1.66 days.
The consensus price target for the stock as assigned by Wall Street analysts is $74.59, meaning bulls need an upside of 15.65% from its current market value. According to analyst projections, NEM’s forecast low is $60.00 with $85.00 as the target high. To hit the forecast high, the stock’s price needs a -35.09% plunge from its current level, while the stock would need to tank 4.64% for it to hit the projected low.
Newmont Corporation (NEM) estimates and forecasts
Data shows that the Newmont Corporation share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 4.00% over the past 6 months, a 25.19% in annual growth rate that is considerably higher than the industry average of 21.20%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Newmont Corporation will rise 134.40%, while the growth in revenue is estimated to hit 3.40% for the next quarter. Year-over-year growth is forecast to reach 14.90% up from the last financial year.
Consensus estimates given by 4 financial analysts project the company’s revenue in the current quarter to hit an average of $3.19 billion. 4 analysts are of the opinion that Newmont Corporation’s revenue for the quarter ending Sep 2021 will be $3.47 billion. The company’s revenue for the corresponding quarters a year ago was $2.41 billion and $3.29 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 32.30%. The estimates for the next quarter sales put growth at 5.40%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 3.03%. The 2021 estimates are for Newmont Corporation earnings to decrease by -15.30%, but the outlook for the next 5-year period is at 8.20% per year.
Newmont Corporation is expected to release its next quarterly earnings report in July. The 3.50% annual yield figure for the share gives it an annual dividend of 2.20. It is important to note, however, that the 3.50% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision. During the past 5 years, the average dividend yield was 1.08 per year.
Newmont Corporation (NYSE:NEM)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.13% of Newmont Corporation shares while 83.41% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 83.52%. There are 83.41% institutions holding the Newmont Corporation stock share, with Blackrock Inc. the top institutional holder. As of Mar 30, 2021, the company held 11.94% of the shares, roughly 95.7 million NEM shares worth $5.77 billion.
Vanguard Group, Inc. (The) holds the second largest percentage of outstanding shares, with 9.71% or 77.76 million shares worth $4.69 billion as of Mar 30, 2021.
Among Mutual Funds, the top two as of May 30, 2021 were VanEck Vectors ETF Tr-Gold Miners ETF and Vanguard Total Stock Market Index Fund. With 34.92 million shares estimated at $2.57 billion under it, the former controlled 4.36% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.82% of the shares, roughly 22.55 million shares worth around $1.36 billion.