As of Friday close, Newmont Corporation’s (NYSE:NEM) stock was up $0.43, moving up 1.06 percent to $40.87. The average number of shares traded per day over the past five days has been 7,609,740 shares. 1 time new highs have been achieved over the past 5 days, with a -$1.55 fall in that time frame. In the last twenty days, the average volume was 7,045,005, while in the previous 50 days, it was 7,742,502.
Since last month, NEM stock retreated -1.61%. Shares of the company fell to $40.20 on 08/03/23, the lowest level in the past month. A 52-week high of $55.41 was reached on 01/24/23 after having rallying from a 52-week low of $37.45. Since the beginning of this year, NEM’s stock price has dropped by -13.41% or -$6.33, and marked a new high 6 times. However, the stock has declined by -26.24% since its 52-week high.
NEM stock investors should be aware that Newmont Corporation (NEM) stock had its last reported insider trading activity 4 days ago on Aug 01. Palmer Thomas Ronald, the President & CEO of the company, disposed of 11,000 shares for $42.16 on Aug 01. It resulted in a $463,760 divestment by the insider. Palmer Thomas Ronald sold 11,000 shares at an average price of $42.85 on Jul 03. The insider now owns 278,039 shares following the transaction. On Jun 01, President & CEO Palmer Thomas Ronald sold 11,000 shares at $40.84 apiece. The transaction was valued at $449,240.
Valuation Metrics
The stock’s beta is 0.40. Besides these, the trailing price-to-sales (P/S) ratio of 2.88, the price-to-book (PB) ratio of 1.69.
The latest dividend of $0.40 per share was paid out, remained unchanged from last year’s $0.40. On Thursday February 23 2023, a $0.15 dividend decrease was announced.
Financial Health
In the three months ended June 29, Newmont Corporation’s quick ratio stood at 1.50, while its current ratio was 2.30, 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 June 29 was 0.31, and the total debt-to-equity ratio was 0.32. On the profitability front, the trailing twelve-month gross margin is 43.30% percent. In the year ended June 29, operating margins totaled -2.40%. Based on annual data, NEM earned $5.45 billion in gross profit and brought in $11.91 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 -1.00%. Return on equity (ROE) for the past 12 months was -3.80%.
In Newmont Corporation’s quarter-end financial report for June 29, it reported total debt of $5.57 billion against cash and short-term investments of $409.0 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. NEM’s revenue fell -13.98% to $2.68 billion during the quarter, while net income inched up to $2.68 billion. While analysts expected Newmont Corporation to report $0.58 quarterly earnings, the actual figure was $0.44 per share, beating the consensus estimate by -24.10%. During the quarter, the company generated $852.0 million in EBITDA. The liabilities of Newmont Corporation were 18.72 billion at the end of its most recent quarter ended June 29, and its total debt was $6.11 billion. The value of shareholders’ equity is $794.73 million.
Technical Picture
This quick technical analysis looks at Newmont Corporation’s (NEM) price momentum. With a historical volatility rate of 26.08%, the RSI 9-day stood at 35.97% on 04 August.
With respect to its five-day moving average, the current Newmont Corporation price is down by -3.65% percent or -$1.55. At present, NEM shares trade -3.24% below its 20-day simple moving average and -9.42% percent below its 100-day simple moving average. However, the stock is currently trading approximately -3.81% below its SMA50 and -1.07% below its SMA200.
Stochastic coefficient K was 6.65% and Stochastic coefficient D was 6.11%, while ATR was 1.03. Given the Stochastic reading of 12.12% for the 14-day period, the RSI (14) reading has been calculated as 39.76%. As of today, the MACD Oscillator reading stands at -1.36, while the 14-day reading stands at -2.00.
Analyst Ratings
Newmont Corporation downgraded its rating on Newmont Corporation (NYSE: NEM) to a Neutral in a note to investors on July 21, 2023. The analysts firm previously had a Sector outperform rating on the stock.Newmont Corporation (NEM) has been rated Overweight by analysts. According to 0 brokerage firms, NEM is a sell, and 7 firms recommend it is a Hold. There are 2 analysts who say the stock is underweight. A total of 3 analysts rate Newmont Corporation stock as buy, with 8 recommending it as overweight.
With a median target price of $56.00, the current consensus forecast for the stock is $40.20 – $70.58. Based on these forecasts, analysts predict Newmont Corporation (NEM) will achieve an average price target of $55.45.
