During the last session, Newmont Corp (NYSE:NEM)’s traded shares were 16.31 million, with the beta value of the company hitting 0.53. At the end of the trading day, the stock’s price was $37.72, reflecting an intraday gain of 1.32% or $0.49. The 52-week high for the NEM share is $52.76, that puts it down -39.87 from that peak though still a striking 22.0% gain since the share price plummeted to a 52-week low of $29.42. The company’s market capitalization is $43.48B, and the average intraday trading volume over the past 10 days was 12.17 million shares, and the average trade volume was 13.57 million shares over the past three months.
Newmont Corp (NYSE:NEM) trade information
Newmont Corp (NEM) registered a 1.32% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 1.32% in intraday trading to $37.72, hitting a weekly high. The stock’s 5-day price performance is 7.01%, and it has moved by 13.14% in 30 days. Based on these gigs, the overall price performance for the year is -23.75%. The short interest in Newmont Corp (NYSE:NEM) is 22.31 million shares and it means that shorts have 1.21 day(s) to cover.
Newmont Corp (NEM) estimates and forecasts
Statistics show that Newmont Corp has underperformed its competitors in share price, compared to the industry in which it operates. Newmont Corp (NEM) shares have gone up 7.13% during the last six months, with a year-to-date growth rate less than the industry average at 16.77% against 18.10. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -5.70% this quarter and then jump 35.60% in the quarter after that. In the rating firms’ projections, revenue will increase 36.30% compared to the previous financial year.
Revenue for the current quarter is expected to be $4.98 billion as predicted by 2 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $5.18 billion by the end of Jun 2024.
While earnings are projected to return 28.93% in 2024, the next five years will return 12.10% per annum.
NEM Dividends
Newmont Corp is due to release its next quarterly earnings between April 25 and April 29. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Newmont Corp is 1.45, with the dividend yield indicating at 3.84 percent, continuing the trend of increasing dividends in recent years.
Newmont Corp (NYSE:NEM)’s Major holders
Newmont Corp insiders own 0.09% of total outstanding shares while institutional holders control 71.53%, with the float percentage being 71.60%. Blackrock Inc. is the largest shareholder of the company, while 1,622 institutions own stock in it. As of Jun 29, 2023, the company held over 99.43 million shares (or 12.51% of all shares), a total value of $4.24 billion in shares.
The next largest institutional holding, with 70.22 million shares, is of Vanguard Group Inc’s that is approximately 8.84% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $3.0 billion.
Also, the Mutual Funds coming in first place with the largest holdings of Newmont Corp (NEM) shares are VanEck ETF Trust-VanEck Gold Miners ETF and Vanguard Total Stock Market Index Fund. Data provided on Sep 29, 2023 indicates that VanEck ETF Trust-VanEck Gold Miners ETF owns about 28.02 million shares. This amounts to just over 3.53 percent of the company’s overall shares, with a $1.04 billion market value. The same data shows that the other fund manager holds slightly less at 24.76 million, or about 3.12% of the stock, which is worth about $1.06 billion.
