In the latest trading session, 2.99 million Newmont Corp (NYSE:NEM) shares changed hands as the company’s beta touched 0.40. With the company’s most recent per share price at $37.77 changing hands around $1.21 or 3.31% at last look, the market valuation stands at $43.53B. NEM’s current price is a discount, trading about -46.7% off its 52-week high of $55.41. The share price had its 52-week low at $33.58, which suggests the last value was 11.09% up since then. When we look at Newmont Corp’s average trading volume, we note the 10-day average is 25.34 million shares, with the 3-month average coming to 13.28 million.
Analysts gave the Newmont Corp (NEM) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.10. If we narrow down to specifics, the data shows that 0 out of 21 analysts rate the stock as a Sell, with a further 3 assigning it an Overweight rating. Of the remaining, 7 recommended NEM as a Hold, 9 felt it is a Buy and 2 rated the stock as Underweight. Newmont Corp’s EPS for the current quarter is expected to be $0.7.
Newmont Corp (NYSE:NEM) trade information
Instantly NEM is in green as seen in intraday trades today. With action 4.66%, the performance over the past five days has been green. The jump to weekly highs of 37.74 on Monday, 11/20/23 added 3.31% to the stock’s daily price. The company’s shares are showing year-to-date downside of -19.98%, with the 5-day performance at 4.66% in the green. However, in the 30-day time frame, Newmont Corp (NYSE:NEM) is -1.74% down. Looking at the short shares, we see there were 44.27 million shares sold at short interest cover period of 2.98 days.
The consensus price target for the stock as assigned by Wall Street analysts is $49.60, meaning bulls need an upside of 23.85% from its recent market value. According to analyst projections, NEM’s forecast low is $37.38 with $60.00 as the target high. To hit the forecast high, the stock’s price needs a -58.86% plunge from its current level, while the stock would need to tank 1.03% for it to hit the projected low.
Newmont Corp (NEM) estimates and forecasts
Data shows that the Newmont Corp share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -11.11% over the past 6 months, a -7.57% in annual growth rate that is considerably lower than the industry average of 8.30%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Newmont Corp will rise 16.70%, while the growth in revenue is estimated to hit 13.20% for the next quarter. Year-over-year growth is forecast to reach -3.70% down from the last financial year.
Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $4.92 billion. 1 analysts are of the opinion that Newmont Corp’s revenue for the quarter ending Mar 2024 will be $4.35 billion. The company’s revenue for the corresponding quarters a year ago was $4.33 billion and $3.53 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 13.50%. The estimates for the next quarter sales put growth at 23.50%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -22.45%. The 2023 estimates are for Newmont Corp earnings to decrease by -11.87%, but the outlook for the next 5-year period is at 10.50% per year.
Newmont Corp is expected to release its next quarterly earnings report on October 26. The 4.23% annual yield figure for the share gives it an annual dividend of 1.60. It is important to note, however, that the 4.23% 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.