In the latest trading session, 3.27 million Newmont Corp (NYSE:NEM) shares changed hands as the company’s beta touched 0.56. With the company’s most recent per share price at $45.09 changing hands around $1.74 or 4.01% at last look, the market valuation stands at $51.33B. NEM’s current price is a discount, trading about -30.23% off its 52-week high of $58.72. The share price had its 52-week low at $29.42, which suggests the last value was 34.75% up since then. When we look at Newmont Corp’s average trading volume, we note the 10-day average is 7.92 million shares, with the 3-month average coming to 9.90 million.
Analysts gave the Newmont Corp (NEM) stock a consensus recommendation rating of Buy, calculated at a mean rating of 2.00. If we narrow down to specifics, the data shows that 0 out of 14 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 4 recommended NEM as a Hold, 10 felt it is a Buy and 0 rated the stock as Underweight. Newmont Corp’s EPS for the current quarter is expected to be 1.02.
Newmont Corp (NYSE:NEM) trade information
Instantly NEM is in green as seen in intraday trades today. With action 8.42%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 21.14%, with the 5-day performance at 8.42% in the green. However, in the 30-day time frame, Newmont Corp (NYSE:NEM) is 18.32% up. Looking at the short shares, we see there were 19.27 million shares sold at short interest cover period of 1.96 days.
The consensus price target for the stock as assigned by Wall Street analysts is 58, meaning bulls need an upside of 22.26% from its recent market value. According to analyst projections, NEM’s forecast low is 53 with 63 as the target high. To hit the forecast high, the stock’s price needs a -39.72% plunge from its current level, while the stock would need to soar -17.54% for it to hit the projected low.
Newmont Corp (NEM) estimates and forecasts
Data shows that the Newmont Corp share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -4.13% over the past 6 months, a 91.93% in annual growth rate that is considerably higher than the industry average of 17.90%. Year-over-year growth is forecast to reach 55.39% up from the last financial year.
Consensus estimates given by 7 financial analysts project the company’s revenue in the current quarter to hit an average of 5.34B. 5 analysts are of the opinion that Newmont Corp’s revenue for the current quarter will be 4.85B. The company’s revenue for the corresponding quarters a year ago was 3.96B and 4.02B respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 34.89%. The estimates for the next quarter sales put growth at 20.49%.
The 2025 estimates are for Newmont Corp earnings to increase by 91.40%.
NEM Dividends
Newmont Corp is expected to release its next quarterly earnings report in March. The 2.22% annual yield figure for the share gives it an annual dividend of 1.00. It is important to note, however, that the 2.22% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision. During the past 5 years, the average dividend yield was 3.18 per year.
Newmont Corp (NYSE:NEM)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.08% of Newmont Corp shares while 73.91% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 73.97%. There are 73.91% institutions holding the Newmont Corp stock share, with VANGUARD GROUP INC the top institutional holder. As of 2024-06-30, the company held 11.7095% of the shares, roughly 135.01 million NEM shares worth $5.65 billion.
BLACKROCK INC. holds the second largest percentage of outstanding shares, with 10.3427% or 119.25 million shares worth $4.99 billion as of 2024-06-30.
Among Mutual Funds, the top two as of Nov 30, 2024 were VanEck ETF Trust-VanEck Gold Miners ETF and Vanguard Total Stock Market Index Fund. With 39.94 shares estimated at $1.8 billion under it, the former controlled 3.51% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 3.21% of the shares, roughly 36.55 shares worth around $1.64 billion.
