In the past week, NEM stock has gone up by 1.80%, with a monthly gain of 2.69% and a quarterly surge of 14.68%. The volatility ratio for the week is 1.64%, and the volatility levels for the last 30 days are 2.10% for Newmont Corp The simple moving average for the last 20 days is 0.87% for NEM stock, with a simple moving average of 28.30% for the last 200 days.
Is It Worth Investing in Newmont Corp (NYSE: NEM) Right Now?
The 36-month beta value for NEM is also noteworthy at 0.51. There are mixed opinions on the stock, with 9 analysts rating it as a “buy,” 2 rating it as “overweight,” 7 rating it as “hold,” and 0 rating it as “sell.”
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The public float for NEM is 1.15B, and at present, short sellers hold a 1.64% of that float. The average trading volume of NEM on October 14, 2024 was 7.58M shares.
NEM) stock’s latest price update
Newmont Corp (NYSE: NEM)’s stock price has plunge by 1.69relation to previous closing price of 53.40. Nevertheless, the company has seen a 1.80% surge in its stock price over the last five trading sessions. zacks.com reported 2024-10-11 that Newmont, Agnico Eagle, Barrick Gold, IAMGOLD and Idaho Strategic Resources have been highlighted in this Industry Outlook article.
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 4.63% 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 -3.55% of loss for the given period.
Volatility was left at 2.10%, however, over the last 30 days, the volatility rate increased by 1.64%, as shares surge +1.10% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +9.59% upper at present.
During the last 5 trading sessions, NEM rose by +1.80%, which changed the moving average for the period of 200-days by +29.56% in comparison to the 20-day moving average, which settled at $53.83. In addition, Newmont Corp saw 31.19% 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 $53.81 back on Oct 01 ’24. After this action, Toth Peter now owns 91,596 shares of Newmont Corp, valued at $161,430 using the latest closing price.
Palmer Thomas Ronald, the President & CEO of Newmont Corp, sale 20,000 shares at $53.81 during a trade that took place back on Oct 01 ’24, which means that Palmer Thomas Ronald is holding 271,469 shares at $1,076,200 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 4.68. 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 summary, Newmont Corp (NEM) has had a better performance as of late. Analysts have bullish opinions on the stock, with some viewing it as a “buy” and others as 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.
