Streetbeat News

NEM

Newmont Corporation

https://www.newmont.com

Industry

Gold

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers. The company was founded in 1916 and is headquartered in Denver, Colorado.

Open

41.05

Mkt cap

47B

Volume

12M

High

41.31

P/E Ratio

-18.69

52-wk high

58.72

Low

40.60

Div yield

0.03

52-wk low

29.42

BMO Capital analyst Jackie Przybylowski maintains an Outperform rating on Newmont (NYSE:NEM) but lowers the price target from $56 to $54.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 2:53 pm

Newmont's (NYSE:NEM) short interest has decreased by 25.91% since the last report, with 16.58 million shares sold short, representing 1.83% of its float. This decrease in short interest could indicate a more bullish sentiment towards NEM. Compared to its peers, NEM has a lower short interest percentage of float (2.85%).

Portfolio Pulse from Benzinga Insights

May 01, 2024 | 7:00 pm

April saw a downturn in major US stock indices with the S&P 500, Nasdaq 100, and Dow Jones all reporting declines. Utilities and miners were the bright spots, with specific ETFs and companies like NextEra Energy and Newmont Corp showing gains. The market faced challenges from inflation surprises and geopolitical tensions, impacting sector performances variably. The utilities sector led with a 2.1% increase, while real estate lagged due to interest rate sensitivity.

Portfolio Pulse from Piero Cingari

April 30, 2024 | 8:39 pm

Newmont (NYSE:NEM) has seen a significant surge in options activity, with a bearish stance by big-money investors. Benzinga's options scanner revealed 13 unusual trades, indicating a mixed sentiment with 38% bullish and 53% bearish. The trades suggest a target price range of $30.0 to $55.0 for Newmont. The company, the world's largest gold miner, recently acquired Newcrest and is expected to sell some higher cost mines. Current stock price is down -2.67% at $41.13, with analysts giving mixed ratings.

Portfolio Pulse from Benzinga Insights

April 30, 2024 | 2:31 pm

Shares of precious metals stocks, including AU, GFI, and SBSW, are trading lower due to a decrease in the price of gold.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:10 pm

TD Securities analyst Greg Barnes maintains a Hold rating on Newmont (NYSE:NEM) and raises the price target from $43 to $48.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 2:43 pm

Corporate earnings have recently uplifted the market, overcoming rate fears. The upcoming week features earnings reports from major companies including Apple and Amazon, which could significantly influence market trends. Analysts anticipate Apple to report a slight earnings beat but expect a lower revenue guide for the June quarter, while Amazon is expected to continue showing strong sales and profit growth. The performance of these companies, especially in sectors like e-commerce, tech, and healthcare, will be closely watched for their impact on the S&P 500 Index.

Portfolio Pulse from Shanthi Rexaline

April 29, 2024 | 5:51 am

Last week's top-performing large-cap stocks included Vertiv Holdings Co, Tesla, Inc., Teradyne, Inc., BeiGene, Ltd., Tyler Technologies, Inc., Westinghouse Air Brake Technologies Corporation, Newmont Corporation, Carrier Global Corporation, First Citizens BancShares, Inc., Lattice Semiconductor Corporation, Microchip Technology Incorporated, Deutsche Bank AG, Grupo Aeroportuario Del Sureste, S.A. De C.V., Antero Resources Corporation, and Monolithic Power Systems, Inc. These companies reported significant gains due to various factors such as better-than-expected earnings, guidance raises, regulatory approvals, and strategic workforce reductions.

Portfolio Pulse from Lekha Gupta

April 28, 2024 | 10:18 pm

Recent analyst ratings for Newmont (NYSE:NEM) show a mix of perspectives, with a total of 5 analysts offering their views. The ratings range from bullish to indifferent, with no bearish outlooks. Over the last 30 days, there has been a shift towards a more cautious stance compared to previous months. Analysts have adjusted their 12-month price targets for Newmont, resulting in an average target of $46.5, down 8.82% from the previous average. Notable actions include adjustments by analysts from TD Securities, Citigroup, Scotiabank, BMO Capital, and RBC Capital, with changes in ratings and price targets reflecting varying expectations for the company's performance. Newmont, the world's largest gold miner, has recently acquired Newcrest and is expected to sell some higher cost mines. Despite a positive revenue trend, Newmont faces challenges with its net margin, ROE, ROA, and a high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

April 26, 2024 | 7:01 pm

TD Securities analyst Greg Barnes maintains a Hold rating on Newmont (NYSE:NEM) and raises the price target from $43 to $48.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 3:35 pm

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