Newmont Corporation (NYSE:NEM) shares traded -2.51% lower at $38.47 on Wall Street last session.
In accordance with the data, 20 analysts cover Newmont Corporation (NYSE:NEM). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $68.31 and a low of $39.80, we find $55.00. Given the previous closing price of $39.46, this indicates a potential upside of 39.38 percent. NEM stock price is now -9.14% away from the 50-day moving average and -16.23% away from the 200-day moving average. The market capitalization of the company currently stands at $30.31B.
It has been rated a hold by 7 analysts and a buy by 8. Brokers who have rated the stock have averaged $55.03 as their price target over the next twelve months.
In other news, Palmer Thomas Ronald, President & CEO sold 11,000 shares of the company’s stock on Aug 01. The stock was sold for $463,760 at an average price of $42.16. Upon completion of the transaction, the President & CEO now directly owns 267,039 shares in the company, valued at $10.27 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 03, President & CEO Palmer Thomas Ronald sold 11,000 shares of the business’s stock. A total of $471,350 was realized by selling the stock at an average price of $42.85. This leaves the insider owning 278,039 shares of the company worth $10.7 million. Insiders disposed of 336,415 shares of company stock worth roughly $12.94 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 BARROW HANLEY MEWHINNEY & STRAUSS LLC during the first quarter worth $116,697,000. ASIA RESEARCH & CAPITAL MANAGEMENT LTD invested $58,436,000 in shares of NEM during the first quarter. In the first quarter, HUDSON BAY CAPITAL MANAGEMENT LP acquired a new stake in Newmont Corporation valued at approximately $26,929,000. SUN VALLEY GOLD LLC acquired a new stake in NEM for approximately $24,724,000. RANDOLPH CO INC purchased a new stake in NEM valued at around $19,160,000 in the second quarter. In total, there are 1,668 active investors with 82.30% ownership of the company’s stock.
Newmont Corporation (NYSE: NEM) opened at $39.28 on Tuesday. During the past 12 months, Newmont Corporation has had a low of $37.45 and a high of $55.41. As of last week, the company has a debt-to-equity ratio of 0.32, a current ratio of 2.30, and a quick ratio of 1.50. The fifty day moving average price for NEM is $42.27 and a two-hundred day moving average price translates $45.90 for the stock.
The latest earnings results from Newmont Corporation (NYSE: NEM) was released for Jun, 2023. According to the Gold Company, earnings per share came in at $0.44, missing analysts’ expectations of $0.58 by -0.14. This compares to $0.01 EPS in the same period last year. The net profit margin was -6.80% and return on equity was -3.80% for NEM. The company reported revenue of $2.68 billion for the quarter, compared to $3.06 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -12.26 percent. For the current quarter, analysts expect NEM to generate $4.32B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/21/2023. Investors who held shares on 09/07/2023 were paid a $0.40 dividend. On an annualized basis, this represents a $1.60 dividend and a 4.16% percent yield. There was an ex-dividend date of 09/06/2023 for this dividend.
Newmont Corporation(NEM) Company Profile
Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, and Ghana. As of December 31, 2022, it had proven and probable gold reserves of 96.1 million ounces and land position of 61,500 square kilometers. The company was founded in 1916 and is headquartered in Denver, Colorado.
