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

In the past three months, 6 analysts have provided ratings for Newmont (NYSE:NEM), with a mix of bullish, somewhat bullish, indifferent, somewhat bearish, and bearish views. The average 12-month price target has decreased by 4.87% to $47.25. Recent analyst actions include both rating downgrades and upgrades, reflecting varied sentiments about Newmont's future performance.

Portfolio Pulse from Benzinga Insights

May 16, 2024 | 6:00 pm

Bernstein analyst Bob Brackett maintains a Market Perform rating on Newmont (NYSE:NEM) but lowers the price target from $46 to $45.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 5:55 pm

Newmont (NYSE:NEM) has seen a bullish trend in its options market, with 63% of traders showing bullish sentiment. The options trading activity suggests investors are targeting a price range of $25.0 to $47.5 for Newmont. The company, the world's largest gold miner, recently acquired Newcrest, planning to sell higher cost, smaller mines. Currently, NEM's stock is slightly up at $41.6, with analysts giving an average target price of $50.0. The options market dynamics and recent acquisitions indicate a positive outlook for Newmont.

Portfolio Pulse from Benzinga Insights

May 09, 2024 | 4:01 pm

Spot gold's consolidation and potential shift of investor focus towards gold miners could benefit the Direxion Daily Gold Miners Index Bull 2X Shares (NUGT), a leveraged ETF targeting the gold mining sector. NUGT, which aims to outperform the NYSE Arca Gold Miners Index by 200%, includes major holdings like Newmont Corp (NEM), Barrick Gold Corp (GOLD), and Franco-Nevada Corp (FNV). Despite recent sideways trading, NUGT's chart shows a symmetrical triangle pattern, indicating potential for a bullish breakout towards April highs or a bearish drop if support fails.

Portfolio Pulse from Melanie Schaffer

May 08, 2024 | 7:49 pm

Peter Schiff used Peloton's 98.5% stock decline to illustrate his point on the mispricing of gold mining stocks, suggesting a similar but reverse situation exists in the gold mining sector. He highlighted the performance of several gold mining stocks, including Barrick Gold Corp, US Goldmining Inc, SSR Mining Inc, Kinross Gold Corporation, and Newmont Corporation, to underscore the varied performance and potential mispricing in the market.

Portfolio Pulse from Kaustubh Bagalkote

May 03, 2024 | 5:15 am

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

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