The stock of Newmont Corp (NYSE: NEM) has decreased by -2.94 when compared to last closing price of 55.53. Despite this, the company has experienced a -1.05% fall in its stock price over the last five trading sessions. zacks.com reported 2024-09-27 that Newmont (NEM) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock’s prospects.
Is It Worth Investing in Newmont Corp (NYSE: NEM) Right Now?
The 36-month beta value for NEM is at 0.51. Analysts have varying views on the stock, with 9 analysts rating it as a “buy,” 2 rating it as “overweight,” 7 as “hold,” and 0 as “sell.”
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The public float for NEM is 1.15B, and currently, shorts hold a 1.85% of that float. The average trading volume for NEM on September 30, 2024 was 7.51M shares.
NEM’s Market Performance
The stock of Newmont Corp (NEM) has seen a -1.05% decrease in the past week, with a 3.99% rise in the past month, and a 28.73% gain in the past quarter. The volatility ratio for the week is 2.51%, and the volatility levels for the past 30 days are at 2.39% for NEM. The simple moving average for the past 20 days is 1.65% for NEM’s stock, with a 29.50% simple moving average for the past 200 days.
Analysts’ Opinion of NEM
Scotiabank, on the other hand, stated in their research note that they expect to see NEM reach a price target of $59, previously predicting the price at $48. The rating they have provided for NEM stocks is “Sector Outperform” according to the report published on August 19th, 2024.
CIBC gave a rating of “Sector Outperform” to NEM, setting the target price at $61 in the report published on July 10th of the current year.
NEM Trading at 6.57% 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 -4.26% of loss for the given period.
Volatility was left at 2.39%, however, over the last 30 days, the volatility rate increased by 2.51%, as shares surge +1.35% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +13.45% upper at present.
During the last 5 trading sessions, NEM fell by -1.05%, which changed the moving average for the period of 200-days by +38.67% in comparison to the 20-day moving average, which settled at $53.06. In addition, Newmont Corp saw 30.22% 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 Toth Peter, who sale 3,000 shares at the price of $52.47 back on Sep 03 ’24. After this action, Toth Peter now owns 94,596 shares of Newmont Corp, valued at $157,410 using the latest closing price.
Palmer Thomas Ronald, the President & CEO of Newmont Corp, sale 20,000 shares at $52.47 during a trade that took place back on Sep 03 ’24, which means that Palmer Thomas Ronald is holding 291,469 shares at $1,049,400 based on the most recent closing price.
Stock Fundamentals for NEM
Current profitability levels for the company are sitting at:
- 0.13 for the present operating margin
- 0.19 for the gross margin
The net margin for Newmont Corp stands at -0.13. The total capital return value is set at 0.04. Equity return is now at value -8.18, with -4.24 for asset returns.
Based on Newmont Corp (NEM), the company’s capital structure generated 0.23 points at debt to capital in total, while cash flow to debt ratio is standing at 0.43. The debt to equity ratio resting at 0.3. The interest coverage ratio of the stock is 5.17.
Currently, EBITDA for the company is 4.29 billion with net debt to EBITDA at 1.14. When we switch over and look at the enterprise to sales, we see a ratio of 4.65. The receivables turnover for the company is 15.42for trailing twelve months and the total asset turnover is 0.26. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.11.
Conclusion
In conclusion, Newmont Corp (NEM) has had a better performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
