Does Newmont Corporation (NYSE:NEM) Look Expensive At $61.60? Here’s How To Know. – Marketing Sentinel
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Does Newmont Corporation (NYSE:NEM) Look Expensive At $61.60? Here’s How To Know.

In recent trading session, Newmont Corporation (NYSE:NEM) saw 1.21 million shares changing hands at last check today with its beta currently measuring 0.30. Company’s recent per share price level of $61.60 trading at $0.08 or 0.13% at last check today assigns it a market valuation of $48.43B. That most recent trading price of NEM’s stock is at a discount of -22.26% from its 52-week high price of $75.31 and is indicating a premium of 14.61% from its 52-week low price of $52.60. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 5.87 million shares which gives us an average trading volume of 6.56 million if we extend that period to 3-months.

For Newmont Corporation (NEM), analysts’ consensus is at an average recommendation of an Overweight. Splitting up the data highlights that, out of 22 analysts covering the stock, 0 rated the stock as a Sell while 2 recommended an Overweight rating for the stock. 9 suggested the stock as a Hold whereas 11 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0.99 in the current quarter.

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Newmont Corporation (NYSE:NEM) trade information

Upright in the green today for gaining 0.13%, in the last five days NEM remained trading in the green while hitting it’s week-highest on Thursday, 01/13/22 when the stock touched $61.60 price level, adding 0.44% to its value on the day. Newmont Corporation’s shares saw a change of -0.81% in year-to-date performance and have moved 1.97% in past 5-day. Newmont Corporation (NYSE:NEM) showed a performance of 7.61% in past 30-days. Number of shares sold short was 9.63 million shares which calculate 1.51 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $64.81 to the stock, which implies a rise of 4.95% to its recent value today. Analysts have been projecting $56.00 as a low price target for the stock while placing it at a high target of $75.00. It follows that stock’s current price would drop -21.75% in reaching the projected high whereas dropping to the targeted low would mean a gain of 9.09% for stock’s current value.

Newmont Corporation (NEM) estimates and forecasts

Statistics highlight that Newmont Corporation is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -3.10% of value to its shares in past 6 months, showing an annual growth rate of 10.15% while that of industry is 12.80. Apart from that, the company came raising its revenue forecast for fiscal year 2022.

NEM Dividends

Newmont Corporation is more likely to be releasing its next quarterly report between February 16 and February 21 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt. With an annual yield of 3.58%, the share has a forward dividend of 2.20 which implies that company’s dividend yield remained growing in trailing twelve months while having a 5 year average dividend yield of 1.44%.

Newmont Corporation (NYSE:NEM)’s Major holders

Insiders are in possession of 0.11% of company’s total shares while institution are holding 80.48 percent of that, with stock having share float percentage of 80.56%. Investors also watch the number of corporate investors in a company very closely, which is 80.48% institutions for Newmont Corporation that are currently holding shares of the company. Blackrock Inc. is the top institutional holder at NEM for having 92.17 million shares of worth $5.0 billion. And as of Sep 29, 2021, it was holding 11.56% of the company’s outstanding shares.

The second largest institutional holder is Vanguard Group, Inc. (The), which was holding about 65.67 million shares on Sep 29, 2021. The number of shares represents firm’s hold over 8.24% of outstanding shares, having a total worth of $3.57 billion.

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On the other hand, VanEck Vectors ETF Tr-Gold Miners ETF and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Sep 29, 2021, the former fund manager was holding 33.52 million shares of worth $1.82 billion or 4.20% of the total outstanding shares. The later fund manager was in possession of 22.57 million shares on Sep 29, 2021, making its stake of worth around $1.23 billion in the company or a holder of 2.83% of company’s stock.

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