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Newmont Corporation (NYSE: NEM) Has Gained 2.06% Year-To-Date (YTD): Any Trouble Coming?

Newmont Corporation (NYSE:NEM)’s traded shares stood at 27.1 million during the last session, with the company’s beta value hitting 0.34. At the close of trading, the stock’s price was $48.17, to imply an increase of 5.22% or $2.39 in intraday trading. The NEM share’s 52-week high remains $86.37, putting it -79.3% down since that peak but still an impressive 22.25% since price per share fell to its 52-week low of $37.45. The company has a valuation of $37.86B, with an average of 11.4 million shares in intraday trading volume over the past 10 days and average of 7.21 million shares over the past 3 months.

Analysts have given a consensus recommendation of an Overweight for Newmont Corporation (NEM), translating to a mean rating of 3.00. Of 23 analyst(s) looking at the stock, 1 analyst(s) give NEM a Sell rating. 1 of those analysts rate the stock as Overweight while 10 advise Hold as 10 recommend it as a Buy. 1 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $0.65.

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Newmont Corporation (NYSE:NEM) trade information

After registering a 5.22% upside in the last session, Newmont Corporation (NEM) has traded red over the past five days. The stock hit a weekly high of 48.69 this Friday, 03/17/23, jumping 5.22% in its intraday price action. The 5-day price performance for the stock is 14.26%, and 4.04% over 30 days. With these gigs, the year-to-date price performance is 2.06%. Short interest in Newmont Corporation (NYSE:NEM) saw shorts transact 13.05 million shares and set a 1.96 days time to cover.

Analysts on Wall Street suggest a consensus price target of $55.87, implying an increase of 13.78% to the stock’s current value. The extremes give us $37.38 and $70.00 for target low and target high price respectively. As such, NEM has been trading -45.32% off suggested target high and 22.4% from its likely low.

Newmont Corporation (NEM) estimates and forecasts

Looking at statistics comparing Newmont Corporation share performance against respective industry, we note that the company has outperformed competitors. Newmont Corporation (NEM) shares are 13.61% up over the last 6 months, with its year-to-date growth rate higher than industry average at 21.08% against 14.10%. Revenue is forecast to shrink -34.30% this quarter before falling -15.70% for the next one. The rating firms project that company’s revenue will shrink -2.20% compared to the previous financial year.

Revenue forecast for the current quarter as set by 1 analysts is $4.36 billion.

NEM Dividends

Newmont Corporation has its next earnings report out between April 20 and April 24. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Newmont Corporation has a forward dividend ratio of 1.60, with the share yield ticking at 3.32% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

Newmont Corporation (NYSE:NEM)’s Major holders

Newmont Corporation insiders hold 0.13% of total outstanding shares, with institutional holders owning 82.53% of the shares at 82.64% float percentage. In total, 82.53% institutions holds shares in the company, led by Blackrock Inc. As of Sep 29, 2022, the company held over 91.12 million shares (or 11.48% of shares), all amounting to roughly $3.83 billion.

The next major institution holding the largest number of shares is Vanguard Group, Inc. (The) with 68.44 million shares, or about 8.62% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $2.88 billion.

We also have VanEck ETF Trust-VanEck Gold Miners ETF and Vanguard Total Stock Market Index Fund as the top two Mutual Funds with the largest holdings of the Newmont Corporation (NEM) shares. Going by data provided on Dec 30, 2022, VanEck ETF Trust-VanEck Gold Miners ETF holds roughly 31.85 million shares. This is just over 4.01% of the total shares, with a market valuation of $1.5 billion. Data from the same date shows that the other fund manager holds a little less at 23.66 million, or 2.98% of the shares, all valued at about 994.3 million.

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