At the time of writing, Newmont Corp [NEM] stock is trading at $35.25, up 3.68%. 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 2.77% over the last week, with a monthly amount glided 18.05%, and seem to be holding up well over a long-time horizon.
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On 4, March 2024, Newmont Announces Pricing of Notes to Repay Outstanding Borrowings Under Revolving Credit Facility. In a post published today on Yahoo Finance, Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) (“Newmont” or the “Company”) and Newcrest Finance Pty Limited, a wholly owned subsidiary of Newmont (“Newcrest Finance” and, together with Newmont, the “Issuers”) announced today that they have priced a private offering (the “Offering”) of $1 billion aggregate principal amount of 5.300% notes due 2026 (the “2026 Notes”) and $1 billion aggregate principal amount of 5.350% notes due 2034 (the “2034 Notes” and, together with the 2026 Notes, the “Notes”). The Notes will be guaranteed on an unsecured senior basis by Newmont USA Limited, a wholly owned subsidiary of Newmont. Subject to customary closing conditions, the Offering is expected to close on March 7, 2024.
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.
For the past year, the stock price of Newmont Corp fluctuated 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 $35.25 at the most recent close of the market. An investor can expect a potential return of 99.55% based on the average NEM price forecast.
Analyzing the NEM fundamentals
According to Newmont Corp [NYSE:NEM], the company’s sales were 11.78B for trailing twelve months, which represents an 24.52% jump. 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 34.53 points at the first support level, and at 33.80 for the second support level. However, for the 1st resistance point, the stock is sitting at 35.63, and for the 2nd resistance point, it is at 36.00.
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
It is important to note that Newmont Corp [NYSE:NEM] has a current ratio of 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 3.45, the price to book ratio is 1.40.
Transactions by insiders
Recent insider trading involved Atkinson Robert D, EVP & COO, that happened on Jan 02 ’24 when 5500.0 shares were sold. EVP & COO, Atkinson Robert D completed a deal on Dec 01 ’23 to sell 5500.0 shares. Meanwhile, President & CEO Palmer Thomas Ronald sold 11000.0 shares on Nov 01 ’23.
