In yesterday’s Wall Street session, Newmont Corp (NYSE:NEM) shares traded at $40.54, down -1.60% from the previous session.
As of this writing, 22 analysts cover Newmont Corp (NYSE:NEM). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $60.00 and a low of $39.00, we find $49.00. Given the previous closing price of $41.20, this indicates a potential upside of 18.93 percent. NEM stock price is now 7.16% away from the 50-day moving average and -4.01% away from the 200-day moving average. The market capitalization of the company currently stands at $46.72B.
There are 7 analysts who have given it a hold rating, whereas 10 have given it a buy rating. Brokers who have rated the stock have averaged $49.64 as their price target over the next twelve months.
With the price target of $45, Macquarie recently initiated with Outperform rating for Newmont Corp (NYSE: NEM).
In other news, Palmer Thomas Ronald, President & CEO sold 11,000 shares of the company’s stock on Nov 01. The stock was sold for $413,600 at an average price of $37.60. Upon completion of the transaction, the President & CEO now directly owns 234,039 shares in the company, valued at $9.49 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 01, EVP & COO Atkinson Robert D sold 5,500 shares of the business’s stock. A total of $206,800 was realized by selling the stock at an average price of $37.60. This leaves the insider owning 65,251 shares of the company worth $2.65 million. Insiders disposed of 222,790 shares of company stock worth roughly $9.03 million over the past 1 year. A total of 0.18% of the company’s stock is owned by insiders.
Monday morning saw Newmont Corp (NYSE: NEM) opened at $40.62. During the past 12 months, Newmont Corp has had a low of $33.58 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 2.12, and a quick ratio of 1.42. The fifty day moving average price for NEM is $37.83 and a two-hundred day moving average price translates $42.24 for the stock.
The latest earnings results from Newmont Corp (NYSE: NEM) was released for Sep, 2023. According to the Gold Company, earnings per share came in at $0.49, missing analysts’ expectations of $0.59 by -0.1. This compares to -$0.01 EPS in the same period last year. The net profit margin was -7.49% and return on equity was -4.16% for NEM. The company reported revenue of $2.49 billion for the quarter, compared to $2.63 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -5.35 percent. For the current quarter, analysts expect NEM to generate $4.84B in revenue.
