In today’s recent session, 1.92 million shares of the Newmont Corp (NYSE:NEM) have been traded, and its beta is 0.53. Most recently the company’s share price was $42.82, and it changed around -$0.36 or -0.83% from the last close, which brings the market valuation of the company to $48.75B. NEM at last check was trading at a discount to its 52-week high of $58.72, offering almost -37.13% off that amount. The share price’s 52-week low was $29.42, which indicates that the recent value has risen by an impressive 31.29% since then. We note from Newmont Corp’s average daily trading volume that its 10-day average is 13.8 million shares, with the 3-month average coming to 9.61 million.
Newmont Corp stock received a consensus recommendation rating of Buy, based on a mean score of 2.00. If we narrow it down even further, the data shows that 0 out of 20 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 9 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 1.07 for the current quarter.
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Newmont Corp (NYSE:NEM) trade information
Instantly NEM has been showing red trend so far today with a performance of -0.83% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 43.19 on recent trading dayincreased the stock’s daily price by 0.86%. The company’s shares are currently up 3.46% year-to-date, but still up 3.86% over the last five days. On the other hand, Newmont Corp (NYSE:NEM) is -27.02% down in the 30-day period. We can see from the shorts that 18.54 million shares have been sold at a short interest cover period of 1.78 day(s).
The consensus price target as assigned by Wall Street analysts is $60.5, which translates to bulls needing to increase their stock price by 29.22% from its current value. Analyst projections state that NEM is forecast to be at a low of $53 and a high of $85.94073324.
Newmont Corp (NEM) estimates and forecasts
Newmont Corp share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 1.02 percent over the past six months and at a 93.79% annual growth rate that is well above the industry average of 20.10%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 114.22% in revenue this quarter, and will report an increase of 76.43% in the next quarter. The year-over-year growth rate is expected to be 55.65%, up from the previous year.
Consensus estimates provided by 4 financial analysts predict the company will bring in an average of 5.2B in revenue for the current quarter. 3 analysts expect Newmont Corp to make 5.15B in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 3.96B and 4.02B respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 31.47%. Forecasts for the next quarter put sales growth at 28.00%.
Newmont Corp earnings are expected to increase by 92.78% in 2024, but the outlook is positive 25.40% per year for the next five years.
NEM Dividends
Newmont Corp’s next quarterly earnings report is expected to be released in December. The annual dividend yield of the stock is 2.69 percent and its annual dividend per share was 1.15. It is important to note, however, that the 2.69% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 3.12 per year.
Newmont Corp (NYSE:NEM)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.09% of Newmont Corp shares, and 73.75% of them are in the hands of institutional investors. The stock currently has a share float of 73.82%. Newmont Corp stock is held by 1799.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 11.7095% of the shares, which is about 135.01 million shares worth $5.65 billion.
BLACKROCK INC., with 10.3427% or 119.25 million shares worth $4.99 billion as of 2024-06-30, 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 30, 2024. The former held 41.44 shares worth $1.78 billion, making up 3.64% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 36.49 shares worth around $1.56 billion, which represents about 3.20% of the total shares outstanding.
