Newmont Corp (NYSE:NEM) shares, rose in value, with the stock price up by 5.12% to the previous day’s close as strong demand from buyers drove the stock to $39.65.
Actively observing the price movement in the last trading, the stock closed the session at $37.72. The value of beta (5-year monthly) was 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 17.94% over the past month.
With the market capitalization of Newmont Corp currently standing at about $45.71 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 3.66%. 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 $0.77 for fiscal year $2.66 and then to about $3.39 by fiscal year 2025. Data indicates that the EPS growth is expected to be 22.00% in 2025, while the next year’s EPS growth is forecast to be 27.40%.
Analysts have estimated the company’s revenue for the quarter at $4.96 billion, with a low estimate of $4.93 billion and a high estimate of $5 billion. According to the average forecast, sales growth in current quarter could jump up 40.70%, 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 $21.92 billion, representing an increase of 37.20% 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 no 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 Hold on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of NEM currently trading nearly 13.75% and 17.51% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 76.16, while the 7-day volatility ratio is showing 3.18% which for the 30-day chart, stands at 2.81%. Furthermore, Newmont Corp (NEM)’s beta value is 0.53, and its average true range (ATR) is 1.14.
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 5.12% in last session, and over the past year, it shrunk by -22.78%%.
Data on historical trading for Newmont Corp (NYSE:NEM) indicates that the trading volumes over the past 10 days have averaged 13.45 million and over the past 3 months, they’ve averaged 13.70 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 71.04% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 22.31 million shares as on Mar 15, 2024, resulting in a short ratio of 1.21. According to the data, the short interest in Newmont Corp (NEM) stood at 1.94% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 17.96 million. The stock has fallen by -4.20% 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.
