and a 36-month beta value of 0.41. Opinions on the stock are mixed, with 8 analysts rating it as a “buy,” 4 as “overweight,” 7 as “hold,” and 0 as “sell.”
The average price predicted for Newmont Corp (NEM) by analysts is $50.10, which is $13.75 above the current market price. The public float for NEM is 1.15B, and at present, short sellers hold a 3.85% of that float. On November 20, 2023, the average trading volume of NEM was 13.19M shares.
NEM) stock’s latest price update
Newmont Corp (NYSE: NEM)’s stock price has gone decline by -0.57 in comparison to its previous close of 36.56, however, the company has experienced a 6.29% increase in its stock price over the last five trading days. Seeking Alpha reported 2023-11-17 that With inflation seeming to finally be getting under control, interest rates at or near their peak, and recession odds rising, the markets are about to shift. We share a widely diversified set of five stocks that we think will benefit from this shift. Each of these stocks has investment-grade credit ratings, trades at attractive valuations, offer attractive yields, and should weather a recession fairly well.
NEM’s Market Performance
NEM’s stock has risen by 6.29% in the past week, with a monthly drop of -7.86% and a quarterly drop of -4.97%. The volatility ratio for the week is 2.50% while the volatility levels for the last 30 days are 2.83% for Newmont Corp. The simple moving average for the past 20 days is -1.76% for NEM’s stock, with a -14.92% simple moving average for the past 200 days.
Analysts’ Opinion of NEM
Many brokerage firms have already submitted their reports for NEM stocks, with BMO Capital Markets repeating the rating for NEM by listing it as a “Outperform.” The predicted price for NEM in the upcoming period, according to BMO Capital Markets is $58 based on the research report published on November 07, 2023 of the current year 2023.
NEM Trading at -4.51% 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 -34.40% of loss for the given period.
Volatility was left at 2.83%, however, over the last 30 days, the volatility rate increased by 2.50%, as shares sank -6.31% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -6.15% lower at present.
During the last 5 trading sessions, NEM rose by +6.29%, which changed the moving average for the period of 200-days by -30.67% in comparison to the 20-day moving average, which settled at $36.88. In addition, Newmont Corp saw -22.99% in overturn over a single year, with a tendency to cut further losses.
Reports are indicating that there were more than several insider trading activities at NEM starting from Palmer Thomas Ronald, who sale 11,000 shares at the price of $37.60 back on Nov 01. After this action, Palmer Thomas Ronald now owns 234,039 shares of Newmont Corp, valued at $413,600 using the latest closing price.
Atkinson Robert D, the EVP & COO of Newmont Corp, sale 5,500 shares at $37.60 during a trade that took place back on Nov 01, which means that Atkinson Robert D is holding 65,251 shares at $206,800 based on the most recent closing price.
Stock Fundamentals for NEM
Current profitability levels for the company are sitting at:
- +13.57 for the present operating margin
- +17.94 for the gross margin
The net margin for Newmont Corp stands at -3.84. The total capital return value is set at 6.01, while invested capital returns managed to touch -1.71. Equity return is now at value -4.16, with -2.17 for asset returns.
Based on Newmont Corp (NEM), the company’s capital structure generated 32.28 points at debt to equity in total, while total debt to capital is 24.40. Total debt to assets is 16.24, with long-term debt to equity ratio resting at 31.65. Finally, the long-term debt to capital ratio is 23.93.
When we switch over and look at the enterprise to sales, we see a ratio of 4.03, with the company’s debt to enterprise value settled at 0.16. The receivables turnover for the company is 33.99 and the total asset turnover is 0.30. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.23.
To sum up, Newmont Corp (NEM) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.