Does Newmont Corp (NYSE:NEM) Look Expensive At $32.74? Here’s How To Know.

In recent trading session, Newmont Corp (NYSE:NEM) saw 2.59 million shares changing hands at last check today with its beta currently measuring 0.53. Company’s recent per share price level of $32.74 trading at -$0.6 or -1.81% at last check today assigns it a market valuation of $37.73B. That most recent trading price of NEM’s stock is at a discount of -61.15% from its 52-week high price of $52.76 and is indicating a discount of -1.04% from its 52-week low price of $33.08. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 10.97 million shares which gives us an average trading volume of 12.33 million if we extend that period to 3-months.

Newmont Corp (NYSE:NEM) trade information

Upright in the red during last session for losing -1.81%, in the last five days NEM remained trading in the red while hitting it’s week-highest on Monday, 02/05/24 when the stock touched $32.74 price level, adding 3.54% to its value on the day. Newmont Corp’s shares saw a change of -20.91% in year-to-date performance and have moved -4.87% in past 5-day. Newmont Corp (NYSE:NEM) showed a performance of -13.74% in past 30-days. Number of shares sold short was 19.7 million shares which calculate 1.81 days to cover the short interests.

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Newmont Corp (NEM) estimates and forecasts

Statistics highlight that Newmont Corp is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -17.83% of value to its shares in past 6 months, showing an annual growth rate of -12.43% while that of industry is 10.60. Apart from that, the company came lowering its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to increase by 3.30% in the current quarter and calculating 11.30% increase in the next quarter. This year revenue growth is estimated to fall -4.50% from the last financial year’s standing.

2 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $5.01 billion for the same. And 1 analysts are in estimates of company making revenue of $5.83 billion in the next quarter that will end on Mar 2024. Company posted $4.33 billion and $3.53 billion of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 15.80% while estimating it to be 65.20% for the next quarter.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -22.45% during past 5 years. In 2024, company’s earnings growth rate is likely to be around -18.18% while estimates for its earnings growth in next 5 years are of 9.15%.

NEM Dividends

Newmont Corp is more likely to be releasing its next quarterly report on February 22 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.

Newmont Corp (NYSE:NEM)’s Major holders

Insiders are in possession of 0.10% of company’s total shares while institution are holding 62.75 percent of that, with stock having share float percentage of 62.81%. Investors also watch the number of corporate investors in a company very closely, which is 62.75% institutions for Newmont Corp that are currently holding shares of the company. Blackrock Inc. is the top institutional holder at NEM for having 99.43 million shares of worth $4.24 billion. And as of Jun 29, 2023, it was holding 12.51% of the company’s outstanding shares.

The second largest institutional holder is Vanguard Group Inc, which was holding about 70.22 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 8.84% of outstanding shares, having a total worth of $3.0 billion.

On the other hand, VanEck ETF Trust-VanEck 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, 2023, the former fund manager was holding 28.02 million shares of worth $1.04 billion or 3.53% of the total outstanding shares. The later fund manager was in possession of 24.76 million shares on Jun 29, 2023, making its stake of worth around $1.06 billion in the company or a holder of 3.12% of company’s stock.

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