Risk-Taking Investors May Find Newmont Corp (NYSE: NEM) Worth A Gamble.

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In today’s recent session, 4.91 million shares of the Newmont Corp (NYSE:NEM) have been traded, and its beta is 0.52. Most recently the company’s share price was $36.53, and it changed around $0.69 or 1.93% from the last close, which brings the market valuation of the company to $42.11B. NEM at last check was trading at a discount to its 52-week high of $52.76, offering almost -44.43% off that amount. The share price’s 52-week low was $29.42, which indicates that the recent value has risen by an impressive 19.46% since then. We note from Newmont Corp’s average daily trading volume that its 10-day average is 16.03 million shares, with the 3-month average coming to 13.29 million.

Newmont Corp stock received a consensus recommendation rating of Buy, based on a mean score of 2.04. If we narrow it down even further, the data shows that 0 out of 18 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 7 recommended NEM as a Hold, whereas 9 deemed it a Buy, and 0 rated it as Underweight. Newmont Corp is expected to report earnings per share of $0.52 for the current quarter.

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Newmont Corp (NYSE:NEM) trade information

Instantly NEM has been showing a green trend so far today with a performance of 1.93% on intraday trading today. The performance over the last five days has remained in the green territory. The company’s shares are currently down -11.74% year-to-date, but still up 8.17% over the last five days. On the other hand, Newmont Corp (NYSE:NEM) is 16.90% up in the 30-day period. We can see from the shorts that 22.31 million shares have been sold at a short interest cover period of 1.21 day(s).

The consensus price target as assigned by Wall Street analysts is $70.34, which translates to bulls needing to increase their stock price by 48.07% from its current value. Analyst projections state that NEM is forecast to be at a low of $60 and a high of $85.94073324.

Newmont Corp (NEM) estimates and forecasts

Newmont Corp share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -1.35 percent over the past six months and at a 16.77% annual growth rate that is well below the industry average of 18.40%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -1.90% in revenue this quarter, and will report an increase of 37.80% in the next quarter. The year-over-year growth rate is expected to be 37.00%, up from the previous year.

Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $4.97 billion in revenue for the current quarter. 1 analysts expect Newmont Corp to make $5.17 billion in revenue for the quarter ending Jun 2024. Analysts predict that the company’s current quarter sales will jump, forecast at 40.90%.

Newmont Corp earnings are expected to increase by 26.23% in 2024, but the outlook is positive 12.10% per year for the next five years.

NEM Dividends

Newmont Corp’s next quarterly earnings report is expected to be released around April 25 and April 29. The annual dividend yield of the stock is 3.97 percent and its annual dividend per share was 1.45. It is important to note, however, that the 3.97% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

Newmont Corp (NYSE:NEM)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.10% of Newmont Corp shares, and 71.57% of them are in the hands of institutional investors. The stock currently has a share float of 71.64%. Newmont Corp stock is held by 1,633 institutions, with Blackrock Inc. being the largest institutional investor. By Jun 29, 2023, it held 12.51% of the shares, which is about 99.43 million shares worth $4.24 billion.

Vanguard Group Inc, with 8.84% or 70.22 million shares worth $3.0 billion as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

VanEck ETF Trust-VanEck Gold Miners ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Sep 29, 2023. The former held 28.02 million shares worth $1.04 billion, making up 3.53% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 24.76 million shares worth around $1.06 billion, which represents about 3.12% of the total shares outstanding.