Newmont Corporation (NYSE:NEM) saw an upside of 0.54% to close Monday at $53.63 after adding $0.29 on the day. The 5-day average trading volume is 6,362,040 shares of the company’s common stock. It has gained $53.88 in the past week and touched a new high 1 time within the past 5 days. An average of 6,233,495 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 6,943,242.
NEM’s 1-month performance is 12.62% or $5.78 on its low of $46.65 reached on 12/30/22. The company’s shares have touched a 52-week low of $37.45 and high of $86.37, with the stock’s rally to the 52-week high happening on 01/13/23. YTD, NEM has achieved 13.62% or $6.43 and has reached a new high 5 times. However, the current price is down -37.91% from the 52-week high price.
NEM stock investors last saw insider trading activity on Jan 03.Atkinson Robert D (EVP & COO) most recently sold 3,000 shares at $48.23 per share on Jan 03. This transaction cost the insider $144,690. President & CEO, Palmer Thomas Ronald, sold 11,000 shares at a price of $48.23 on Jan 03. Then, on Dec 01, EVP & COO Atkinson Robert D sold 3,000 shares at a price of $48.42 per share. This transaction amounted to $145,260.
NEM stock has a beta of 0.28. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 3.46 while the price-to-book (PB) in the most recent quarter is 2.01.
Newmont Corporation’s quick ratio for the period ended June 29 was 2.00, with the current ratio over the same period at 2.70. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.28, while the total debt to equity was 0.29. In terms of profitability, the gross margin trailing 12 months is 48.60%. The firm’s gross profit as reported stood at $6.79 billion against revenue of $12.22 billion.
For the quarterly period ending June 29 this year, Newmont Corporation’s cash and short-term investments amounted to $755.0 million against total debt of $6.17 billion. Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 98.59% to $213.0 million, while revenue of $387.0 million was -81.69% off the previous quarter. Analysts expected NEM to announce $0.87 per share in earnings in its latest quarter, but it posted $0.62, representing a -28.70% surprise. EBITDA for the quarter stood at more than $803.0 million. NEM stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 17.74 billion, with total debt at $6.17 billion. Shareholders hold equity totaling $793.74 million.
Let’s look briefly at Newmont Corporation (NEM) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 23 January was 63.94% to suggest the stock is trending Neutral, with historical volatility in this time period at 29.94%.
The stock’s 5-day moving average is $52.69, reflecting a -1.32% or -$0.72 change from its current price. NEM is currently trading +13.33% above its 20-day SMA, +25.27% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +22.58% and SMA200 by-32.84%.
Stochastic %K and %D was 82.03% and 75.40% and the average true range (ATR) pointed at 1.56. The RSI (14) points at 63.65%, while the 14-day stochastic is at 86.52% with the period’s ATR at 1.54. The stock’s 9-day MACD Oscillator is pointing at 0.17 and 0.72 on the 14-day charts.
In the most recent analyst report for Newmont Corporation (NYSE: NEM), Canaccord Genuity downgraded it to a Hold rating. They previously had a Buy rating on the stock. Analysts offering their rating for NEM stock have a consensus rating for the stock as Overweight. Currently, 1 brokerage advisors rate NEM as a “sell,”, while 13 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 8 have offered a “buy” rating.
What is NEM’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $38.55 and a high of $65.00, with their median price target at $54.00. Looking at these predictions, the average price target given by analysts is for Newmont Corporation (NEM) stock is $54.14.