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Wall Street Pummels Newmont Corporation (NEM) After Recent Earnings Report

Newmont Corporation (NYSE:NEM) went up by 0.54% from its latest closing price compared to the recent 1-year high of $86.37. The company’s stock price has collected -1.32% of loss in the last five trading sessions. Barron’s reported on 11/01/22 that Newmont’s Profit Falls Short as Gold Price Weakens

Is It Worth Investing in Newmont Corporation (NYSE :NEM) Right Now?

Newmont Corporation (NYSE:NEM) scored a price-to-earnings ratio above its average ratio, recording 44.03 x from its present earnings ratio. Plus, the 36-month beta value for NEM is at 0.28. Opinions of the stock are interesting as 8 analysts out of 23 who provided ratings for Newmont Corporation declared the stock was a “buy,” while 1 rated the stock as “overweight,” 13 rated it as “hold,” and 1 as “sell.”

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The average price from analysts is $54.14, which is $1.54 above the current price. NEM currently public float of 792.44M and currently shorts hold a 1.44% ratio of that float. Today, the average trading volume of NEM was 7.46M shares.

NEM’s Market Performance

NEM stocks went down by -1.32% for the week, with a monthly jump of 12.62% and a quarterly performance of 30.36%, while its annual performance rate touched -15.99%. The volatility ratio for the week stands at 3.22% while the volatility levels for the past 30 days are set at 2.70% for Newmont Corporation. The simple moving average for the period of the last 20 days is 5.81% for NEM stocks with a simple moving average of 0.19% for the last 200 days.

Analysts’ Opinion of NEM

Many brokerage firms have already submitted their reports for NEM stocks, with Canaccord Genuity repeating the rating for NEM by listing it as a “Hold.” The predicted price for NEM in the upcoming period, according to Canaccord Genuity is $56 based on the research report published on January 19th of the current year 2023.

Goldman, on the other hand, stated in their research note that they expect to see NEM reach a price target of $53. The rating they have provided for NEM stocks is “Buy” according to the report published on September 12th, 2022.

NEM Trading at 11.73% from the 50-Day Moving Average

After a stumble in the market that brought NEM to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -37.91% of loss for the given period.

Volatility was left at 2.70%, however, over the last 30 days, the volatility rate increased by 3.22%, as shares surge +13.33% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +22.58% upper at present.

During the last 5 trading sessions, NEM fell by -1.32%, which changed the moving average for the period of 200-days by -32.84% in comparison to the 20-day moving average, which settled at $51.00. In addition, Newmont Corporation saw 13.62% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at NEM starting from Atkinson Robert D, who sale 3,000 shares at the price of $48.23 back on Jan 03. After this action, Atkinson Robert D now owns 33,947 shares of Newmont Corporation, valued at $144,690 using the latest closing price.

Palmer Thomas Ronald, the President & CEO of Newmont Corporation, sale 11,000 shares at $48.23 during a trade that took place back on Jan 03, which means that Palmer Thomas Ronald is holding 199,949 shares at $530,530 based on the most recent closing price.

Stock Fundamentals for NEM

Current profitability levels for the company are sitting at:

  • +15.72 for the present operating margin
  • +19.49 for the gross margin

The net margin for Newmont Corporation stands at +9.10. Equity return is now at value 4.70, with 2.50 for asset returns.

The liquidity ratio also appears to be rather interesting for investors as it stands at 2.90.