Newmont Corp (NYSE:NEM) shares, rose in value on Thursday, March 14, with the stock price down by -0.23% to the previous day’s close as strong demand from buyers drove the stock to $34.29.
Actively observing the price movement in the recent trading, the stock is buoying the session at $34.37. The value of beta (5-year monthly) is 0.50. Referring to stock’s 52-week performance, its high was $52.76, and the low was $29.42. On the whole, NEM has fluctuated by 7.03% over the past month.
With the market capitalization of Newmont Corp currently standing at about $39.52 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 25, 2024 – Apr 29, 2024. The company’s Forward Dividend Ratio is 1.45, with its dividend yield at 4.23%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.5, which is expected to increase to $0.66 for fiscal year $2.58 and then to about $3.26 by fiscal year 2025. Data indicates that the EPS growth is expected to be 18.90% in 2025, while the next year’s EPS growth is forecast to be 26.40%.
Analysts have estimated the company’s revenue for the quarter at $4.95 billion, with a low estimate of $4.92 billion and a high estimate of $4.99 billion. According to the average forecast, sales growth in current quarter could jump up 40.40%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $21.73 billion, representing an increase of 36.40% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that NEM’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of NEM currently trading nearly 5.18% and -0.60% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 54.69, while the 7-day volatility ratio is showing 2.49% which for the 30-day chart, stands at 3.19%. Furthermore, Newmont Corp (NEM)’s beta value is 0.50, and its average true range (ATR) is 1.08.
A comparison of Newmont Corp (NEM) with its peers suggests the former has fared considerably weaker in the market. NEM showed an intraday change of -0.23% in today’s session so far, and over the past year, it shrunk by -23.58%%.
Data on historical trading for Newmont Corp (NYSE:NEM) indicates that the trading volumes over the past 10 days have averaged 16.91 million and over the past 3 months, they’ve averaged 12.63 million. According to company’s latest data on outstanding shares, there are 1.15 billion shares outstanding.
Nearly 0.14% of Newmont Corp’s shares belong to company insiders and institutional investors own 71.12% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 19.54 million shares as on Feb 29, 2024, resulting in a short ratio of 1.46. According to the data, the short interest in Newmont Corp (NEM) stood at 1.70% of shares outstanding as of Feb 29, 2024; the number of short shares registered in Jan 31, 2024 reached 18.97 million. The stock has fallen by -17.15% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the NEM stock heading into the next quarter.
