During the recent session, Newmont Corp (NYSE:NEM)’s traded shares were 3.29 million, with the beta value of the company hitting 0.51. The 52-week high for the NEM share is $54.93, that puts it down -3.52 from that peak though still a striking 44.55% gain since the share price plummeted to a 52-week low of $29.42. The company’s market capitalization is $60.89B, and the average intraday trading volume over the past 10 days was 6.75 million shares, and the average trade volume was 7.30 million shares over the past three months.
Newmont Corp (NEM) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.92. NEM has a Sell rating from 0 analyst(s) out of 14 analysts who have looked at this stock. 4 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 10 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be 0.79.
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Newmont Corp (NYSE:NEM) trade information
Newmont Corp (NEM) registered a 0.01% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 0.01% in intraday trading to $53.06, hitting a weekly high. The stock’s 5-day price performance is 0.35%, and it has moved by 3.14% in 30 days. Based on these gigs, the overall price performance for the year is 31.71%. The short interest in Newmont Corp (NYSE:NEM) is 17.04 million shares and it means that shorts have 2.5 day(s) to cover.
The consensus price target of analysts on Wall Street is $60, which implies an increase of 11.57% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $50 and $85.94073324 respectively. As a result, NEM is trading at a discount of -61.97% off the target high and 5.77% off the low.
Newmont Corp (NEM) estimates and forecasts
Statistics show that Newmont Corp has outperformed its competitors in share price, compared to the industry in which it operates. Newmont Corp (NEM) shares have gone up 54.71% during the last six months, with a year-to-date growth rate more than the industry average at 75.16% against 21.30. In the rating firms’ projections, revenue will increase 52.10% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 4.59B as predicted by 5 analyst(s). Meanwhile, a consensus of 5 analyst(s) estimates revenue growth to 5.09B by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 2.9B and 3.96B respectively. In this case, analysts expect current quarter sales to grow by 58.50% and then jump by 28.60% in the coming quarter.
While earnings are projected to return 85.83% in 2024, the next five years will return 26.25% per annum.
NEM Dividends
Newmont Corp is due to release its next quarterly earnings on 2024-Oct-24. 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 1.15, with the dividend yield indicating at 2.17 percent, continuing the trend of increasing dividends in recent years. The average dividend yield of the company for the last 5 years is 3.09%.
Newmont Corp (NYSE:NEM)’s Major holders
Newmont Corp insiders own 0.09% of total outstanding shares while institutional holders control 73.02%, with the float percentage being 73.08%. VANGUARD GROUP INC is the largest shareholder of the company, while 1683.0 institutions own stock in it. As of 2024-06-30, the company held over 135.01 million shares (or 11.7095% of all shares), a total value of $5.65 billion in shares.
The next largest institutional holding, with 119.25 million shares, is of BLACKROCK INC.’s that is approximately 10.3427% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $4.99 billion.
