Newmont Corp (NEM): A Great Stock For Handling Current Market Conditions?

Currently, there are 1.15B common shares owned by the public and among those 1.15B shares have been available to trade.

The company’s stock has a 5-day price change of 3.79% and -15.43% over the past three months. NEM shares are trading -13.41% year to date (YTD), with the 12-month market performance down to -26.35% lower. It has a 12-month low price of $29.42 and touched a high of $52.76 over the same period. NEM has an average intraday trading volume of 13.15 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.92%, 6.83%, and -6.35% respectively.

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Institutional ownership of Newmont Corp (NYSE: NEM) shares accounts for 71.13% of the company’s 1.15B shares outstanding.

It has a market capitalization of $41.32B and a beta (3y monthly) value of 0.51. The earnings-per-share (ttm) stands at -$2.39. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.61% over the week and 2.98% over the month.

Analysts forecast that Newmont Corp (NEM) will achieve an EPS of $0.5 for the current quarter, $0.61 for the next quarter and $3.24 for 2025. The lowest estimate earnings-per-share for the quarter is $0.35 while analysts give the company a high EPS estimate of $0.58. Comparatively, EPS for the current quarter was $0.53 a year ago. Earnings per share for the fiscal year are expected to increase by 26.90%, and 23.66% over the next financial year.

Looking at the support for the NEM, a number of firms have released research notes about the stock. Jefferies stated their Buy rating for the stock in a research note on February 29, 2024, with the firm’s price target at $34-$38. TD Securities was of a view on January 09, 2024 that the stock is Hold, while Macquarie gave the stock Outperform rating on November 21, 2023, issuing a price target of $45. BMO Capital Markets on their part issued Outperform rating on November 07, 2023.

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