Newmont Corporation (NYSE:NEM) finished Thursday with a subtraction of -$0.13 to close at $39.06, a downside of -0.33 percent. An average of 6,456,580 shares of common stock have been traded in the last five days. There was a gain of $0.40 in the past week, and it reached a new high 12 times over the past 12 months. The last 20 days have seen an average of 6,826,960 shares traded, while the 50-day average volume stands at 7,179,438.
NEM stock has decreased by -10.10% in the last month. The company shares reached their 1-month lowest point of $37.84 on 08/22/23. With the stock rallying to its 52-week high on 01/24/23, shares of the company touched a low of $37.45 and a high of $55.41 in 52 weeks. It has reached a new high 6 times so far this year and lost -17.25% or -$8.14 in price. In spite of this, the price is down -29.51% from the 52-week high.
Insider Transactions
NEM stock investors should be aware that Newmont Corporation (NEM) stock had its last reported insider trading activity 24 days ago on Aug 01. In this transaction, the insider spent $463,760. President & CEO, Palmer Thomas Ronald, disposed of 11,000 shares at a price of $42.85 on Jul 03. The insider now owns more than $471,350 worth of shares. Prior to that, President & CEO Palmer Thomas Ronald went on to Sale 11,000 shares at $40.84 each on Jun 01. An amount of $449,240 was transacted.
Valuation Metrics
Newmont Corporation (NEM) stock’s beta is 0.41. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.81, the price-to-book (PB) ratio at 1.62, and the price-to-cash flow ratio at 101.34.
Financial Health
The quick ratio of Newmont Corporation for the three months ended June 29 was 1.50, and the current ratio was 2.30, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.31 and a total debt to equity ratio of 0.32 for the quarter ending June 29. Newmont Corporation’s EBITDA margin for the year ending June 29 is 39.56%, while its operating margin for the same period stands at -2.40%. Its gross profit as reported stood at $5.45 billion compared to revenue of $11.91 billion.
Earnings Surprise
For the three-month period that ended June 29, Newmont Corporation had $5.57 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $155.0 million in the quarter, while revenues were shrunk -149.68%. The analyst consensus anticipated Newmont Corporation’s latest quarter earnings to come in at $0.59 per share, but it turned out to be $0.45, a -23.70% surprise. For the quarter, EBITDA amounted to $852.0 million. Shareholders own equity worth $794.73 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Newmont Corporation (NEM) price momentum. RSI 9-day as of the close on 24 August was 41.80%, suggesting the stock is Neutral, with historical volatility in this time frame at 20.16%.
As of today, NEM’s price is $38.66 +1.03% or $0.40 from its 5-day moving average. NEM is currently trading -7.24% lower than its 20-day SMA and -20.32% lower than its 100-day SMA. However, the stock’s current price level is -7.96% below the SMA50 and -4.71% below the SMA200.
The stochastic %K and %D were 36.09% and 24.63%, respectively, and the average true range (ATR) was 0.81. With the 14-day stochastic at 41.50% and the average true range at 0.86, the RSI (14) stands at 39.93%. The stock has reached 0.26 on the 9-day MACD Oscillator while the 14-day reading was at -0.22.
Analyst Ratings
CIBC downgraded Newmont Corporation (NYSE: NEM) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as a Sector outperform.
