In yesterday’s Wall Street session, Newmont Corporation (NYSE:NEM) shares traded at $45.18, up 0.44% from the previous session.
21 analysts cover Newmont Corporation (NYSE:NEM), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $70.63 and a low of $44.23, we find $57.00. Given the previous closing price of $44.98, this indicates a potential upside of 26.72 percent. NEM stock price is now 4.29% away from the 50-day moving average and -1.74% away from the 200-day moving average. The market capitalization of the company currently stands at $36.30B.
The stock has received a hold rating from 7 analysts and a buy rating from 9. Brokers who have rated the stock have averaged $56.49 as their price target over the next twelve months.
With the price target reduced from $62 to $61, Barclays Upgraded its rating from Equal Weight to Overweight for Newmont Corporation (NYSE: NEM).
In other news, Palmer Thomas Ronald, President & CEO sold 11,000 shares of the company’s stock on Jul 03. The stock was sold for $471,350 at an average price of $42.85. Upon completion of the transaction, the President & CEO now directly owns 278,039 shares in the company, valued at $12.56 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 01, President & CEO Palmer Thomas Ronald sold 11,000 shares of the business’s stock. A total of $449,240 was realized by selling the stock at an average price of $40.84. This leaves the insider owning 289,039 shares of the company worth $13.06 million. Insiders disposed of 364,629 shares of company stock worth roughly $16.47 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in NEM stock. A new stake in Newmont Corporation shares was purchased by OFI INVEST ASSET MANAGEMENT during the first quarter worth $497,761,000. EMPOWER ADVISORY GROUP, LLC invested $57,338,000 in shares of NEM during the first quarter. In the first quarter, LIONTRUST INVESTMENT PARTNERS LLP acquired a new stake in Newmont Corporation valued at approximately $26,402,000. RANDOLPH CO INC acquired a new stake in NEM for approximately $22,502,000. POINTSTATE CAPITAL LP purchased a new stake in NEM valued at around $13,983,000 in the second quarter. In total, there are 1,675 active investors with 82.30% ownership of the company’s stock.
On Wednesday morning Newmont Corporation (NYSE: NEM) stock kicked off with the opening price of $44.70. During the past 12 months, Newmont Corporation has had a low of $37.45 and a high of $55.56. As of last week, the company has a debt-to-equity ratio of 0.32, a current ratio of 2.40, and a quick ratio of 1.70. The fifty day moving average price for NEM is $43.25 and a two-hundred day moving average price translates $46.00 for the stock.
The latest earnings results from Newmont Corporation (NYSE: NEM) was released for Mar, 2023. The net profit margin was -4.50% and return on equity was -2.60% for NEM. The company reported revenue of $2.68 billion for the quarter, compared to $3.02 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -11.38 percent.
Moreover, the firm recently paid out its quarterly dividend on 06/15/2023. Investors who held shares on 06/01/2023 were paid a $0.40 dividend. On an annualized basis, this represents a $1.60 dividend and a 3.54% percent yield. There was an ex-dividend date of 05/31/2023 for this dividend.
