So Far This Year, Newmont Corporation (NEM) Reached A New High 1 time

As of Friday close, Newmont Corporation’s (NYSE:NEM) stock was down -$0.1, moving down -0.15 percent to $65.25. The average number of shares traded per day over the past five days has been 7,406,960 shares. 1 time new highs have been achieved over the past 5 days, with a -$7.62 fall in that time frame. In the last twenty days, the average volume was 7,028,245, while in the previous 50 days, it was 7,883,480.

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Since last month, NEM stock retreated -22.60%. Shares of the company fell to $64.32 on 05/12/22, the lowest level in the past month. A 52-week high of $86.37 was reached on 04/18/22 after having rallying from a 52-week low of $52.60. Since the beginning of this year, NEM’s stock price has risen by 5.21% or $3.23, and marked a new high 21 times. However, the stock has declined by -24.45% since its 52-week high.

Newmont Corporation (NEM) last reported insider trading activity 2 days ago on May 12. Gottesfeld Stephen P, the EVP and Chief S&EA Officer of the company, disposed of 4,000 shares for $66.63 on May 12. It resulted in a $266,520 divestment by the insider. Atkinson Robert D sold 3,000 shares at an average price of $71.20 on May 02. The insider now owns 70,617 shares following the transaction. On May 02, President & CEO Palmer Thomas Ronald sold 11,000 shares at $71.20 apiece. The transaction was valued at $783,200.

Valuation Metrics

Right now, Newmont Corporation (NEM) has a P/E ratio of about 52.03. The stock’s beta is 0.36. Besides these, the trailing price-to-sales (P/S) ratio of 4.15, the price-to-book (PB) ratio of 2.41, and the price-to-cash flow ratio of 74.61 may also be considered.

The latest dividend of $0.55 per share was paid out, remained unchanged from last year’s $0.55. On Wednesday February 17 2021, a $0.15 dividend increase was announced.

Financial Health

In the three months ended September 29, Newmont Corporation’s quick ratio stood at 2.20, while its current ratio was 2.90, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending September 29 was 0.28, and the total debt-to-equity ratio was 0.29. On the profitability front, the trailing twelve-month gross margin is 54.60% percent. In the year ended September 29, operating margins totaled 9.60%. Based on annual data, NEM earned $6.79 billion in gross profit and brought in $12.22 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 0.50%. Return on equity (ROE) for the past 12 months was 4.70%.

In Newmont Corporation’s quarter-end financial report for September 29, it reported total debt of $5.57 billion against cash and short-term investments of $72.0 million. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. NEM’s revenue rose 5.0% to $3.39 billion during the quarter, while net income inched up to $3.02 billion. While analysts expected Newmont Corporation to report $0.94 quarterly earnings, the actual figure was $0.77 per share, beating the consensus estimate by -18.10%. During the quarter, the company generated $1.35 billion in EBITDA. The liabilities of Newmont Corporation were 18.28 billion at the end of its most recent quarter ended September 29, and its total debt was $6.24 billion. The value of shareholders’ equity is $793.65 million.

Technical Picture

This quick technical analysis looks at Newmont Corporation’s (NEM) price momentum. With a historical volatility rate of 34.85%, the RSI 9-day stood at 18.43% on 13 May.

With respect to its five-day moving average, the current Newmont Corporation price is down by -10.46% percent or -$7.62. At present, NEM shares trade -23.03% below its 20-day simple moving average and +11.14% percent above its 100-day simple moving average. However, the stock is currently trading approximately -7.68% below its SMA50 and +4.03% above its SMA200.

Stochastic coefficient K was 10.24% and Stochastic coefficient D was 8.71%, while ATR was 2.66. Given the Stochastic reading of 8.72% for the 14-day period, the RSI (14) reading has been calculated as 26.05%. As of today, the MACD Oscillator reading stands at -3.33, while the 14-day reading stands at -4.36.

Analyst Ratings

Newmont Corporation downgraded its rating on Newmont Corporation (NYSE: NEM) to a Mkt perform in a note to investors on April 25, 2022. The analysts firm previously had an Outperform rating on the stock.Newmont Corporation (NEM) has been rated Overweight by analysts. According to 0 brokerage firms, NEM is a sell, and 15 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Newmont Corporation stock as buy, with 6 recommending it as overweight.

With a median target price of $80.00, the current consensus forecast for the stock is $54.00 – $100.00. Based on these forecasts, analysts predict Newmont Corporation (NEM) will achieve an average price target of $81.26.


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