A share price of Newmont Corp [NEM] is currently trading at $31.94, up 2.21%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The NEM shares have gain 2.11% over the last week, with a monthly amount drifted -7.45%, and not seem to be holding up well over a long-time horizon.
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On 22, February 2024, Newmont Completes COO Transition. In a post published today on Yahoo Finance, Rob Atkinson Departs Newmont Executive Leadership Team, Transitions Remaining Operational and Leadership Responsibilities to Natascha Viljoen.
From an analyst’s perspective:
Previously, Argus downgraded its rating to Hold on February 26, 2024. On January 09, 2024, downgrade downgraded it’s rating to Hold. Macquarie started tracking the stock assigning a Outperform rating and suggested a price target of $45 on November 21, 2023. CIBC downgraded its rating to Neutral for this stock on July 21, 2023. In a note dated July 07, 2023, Barclays upgraded an Overweight rating on this stock and revised its target price from $62 to $61.
Newmont Corp experienced fluctuations in its stock price throughout the past year between $29.42 and $52.76. Currently, Wall Street analysts expect the stock to reach $70.34 within the next 12 months. Newmont Corp [NYSE: NEM] shares were valued at $31.94 at the most recent close of the market. An investor can expect a potential return of 120.23% based on the average NEM price forecast.
Analyzing the NEM fundamentals
Trailing Twelve Months sales for Newmont Corp [NYSE:NEM] were 11.78B which represents 24.52% growth. Gross Profit Margin for this corporation currently stands at 0.14% with Operating Profit Margin at 0.05%, Pretax Profit Margin comes in at -0.17%, and Net Profit Margin reading is -0.21%. To continue investigating profitability, this company’s Return on Assets is posted at -0.04, Equity is -0.11 and Total Capital is 0.01. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.31.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 31.14 points at the first support level, and at 30.33 for the second support level. However, for the 1st resistance point, the stock is sitting at 32.54, and for the 2nd resistance point, it is at 33.14.
Newmont Corp [NEM] reported earnings per share of $0.68 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.63/share, meaning a difference of $0.05 and a surprise factor of 7.90%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.48 per share as compared to estimates of $0.59 per share, a difference of -$0.11 representing a surprise of -18.60%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Newmont Corp [NYSE:NEM] is 1.25. As well, the Quick Ratio is 0.81, while the Cash Ratio is 0.5. Considering the valuation of this stock, the price to sales ratio is 3.13, the price to book ratio is 1.27.
Transactions by insiders
Recent insider trading involved Atkinson Robert D, EVP & COO, that happened on Jan 02 when 5500.0 shares were sold. EVP & COO, Atkinson Robert D completed a deal on Dec 01 to sell 5500.0 shares. Meanwhile, President & CEO Palmer Thomas Ronald sold 11000.0 shares on Nov 01.
