Newmont Corp (NYSE:NEM) has a beta value of 0.51 and has seen 1.41 million shares traded in the recent trading session. The company, currently valued at $63.40B, closed the recent trade at $55.25 per share which meant it gained $0.43 on the day or 0.78% during that session. The NEM stock price is -1.9% off its 52-week high price of $56.30 and 46.75% above the 52-week low of $29.42. If we look at the company’s 10-day average daily trading volume, we find that it stood at 6.48 million shares traded. The 3-month trading volume is 7.49 million shares.
The consensus among analysts is that Newmont Corp (NEM) is Buy stock at the moment, with a recommendation rating of 1.83. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 4 out of 14 have rated it as a Hold, with 10 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is 0.82.
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Newmont Corp (NYSE:NEM) trade information
Sporting 0.78% in the green today, the stock has traded in the green over the last five days, with the highest price hit on recent trading when the NEM stock price touched $55.25 or saw a fall of -0.04%. Year-to-date, Newmont Corp shares have moved 33.49%, while the 5-day performance has seen it change 4.76%. Over the past 30 days, the shares of Newmont Corp (NYSE:NEM) have changed 3.99%. Short interest in the company has seen 18.74 million shares shorted with days to cover at 2.19.
Wall Street analysts have a consensus price target for the stock at $60.5, which means that the shares’ value could jump 8.68% from the levels at last check today. The projected low price target is $50.0 while the price target rests at a high of $85.94073324. In that case, then, we find that the latest price level in today’s session is -55.55% off the targeted high while a plunge would see the stock lose 9.5% from the levels at last check today.
Newmont Corp (NEM) estimates and forecasts
Figures show that Newmont Corp shares have outperformed across the wider relevant industry. The company’s shares have gained 44.98% over the past 6 months, with this year growth rate of 90.06%, compared to 22.30% for the industry. Revenue growth from the last financial year stood is estimated to be 52.60%.
5 analysts offering their estimates for the company have set an average revenue estimate of 4.64B for the current quarter. 5 have an estimated revenue figure of 5.07B for the next ending quarter. Year-ago sales stood 2.9B and 3.96B respectively for this quarter and the next, and analysts expect sales will grow by 60.10% for the current quarter and 52.60% for the next.
Earnings growth for 2024 is a modest 88.51% while over the next 5 years, the company’s earnings are expected to increase by 25.10%.
NEM Dividends
Newmont Corp is expected to release its next earnings report on 2024-Oct-23 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 1.15 at a share yield of 2.08%. The company’s dividend yield has gone up over the past 12 months, with a 5 Year Average Dividend Yield of 3.1%.
Newmont Corp (NYSE:NEM)’s Major holders
Insiders own 0.09% of the company shares, while shares held by institutions stand at 73.06% with a share float percentage of 73.12%. Investors are also buoyed by the number of investors in a company, with Newmont Corp having a total of 1687.0 institutions that hold shares in the company. The top two institutional holders are VANGUARD GROUP INC with over 135.01 million shares worth more than $5.65 billion. As of 2024-06-30, VANGUARD GROUP INC held 11.7095% of shares outstanding.
The other major institutional holder is BLACKROCK INC., with the holding of over 119.25 million shares as of 2024-06-30. The firm’s total holdings are worth over $4.99 billion and represent 10.3427% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are VanEck ETF Trust-VanEck Gold Miners ETF and Vanguard Total Stock Market Index Fund. As of Sep 30, 2024, the former fund manager holds about 3.61% shares in the company for having 41.44 shares of worth $2.3 billion while later fund manager owns 36.49 shares of worth $2.02 billion as of Jun 30, 2024, which makes it owner of about 3.18% of company’s outstanding stock.
