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

44.96

Mkt cap

51B

Volume

7.6M

High

45.27

P/E Ratio

-20.57

52-wk high

58.72

Low

44.55

Div yield

0.03

52-wk low

29.42

Newmont Corporation's shares saw an increase following the announcement of their Q1 2024 earnings, which surpassed analysts' expectations in terms of adjusted EPS and sales.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 1:05 pm

Newmont Corporation projects its FY24 attributable gold production to reach 6,930K ounces, indicating a significant production outlook.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 11:10 am

Newmont (NYSE:NEM) reported Q1 2024 adjusted EPS of $0.55, surpassing the $0.36 estimate, with sales of $4.023B exceeding the $3.670B forecast. This represents a 50.17% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 11:08 am

Market whales have shown a mixed sentiment towards Newmont (NYSE:NEM), with a bearish lean in recent options trading. Analysis of 15 trades reveals a split in expectations, with 40% bullish and 46% bearish. Significant trading activity targets a price range of $25.0 to $42.5 for NEM. The company, the world's largest gold miner, has made strategic acquisitions and is expected to sell some higher cost mines. Current market data shows NEM's price up 0.83% at $37.77, with potential overbought signals and an upcoming earnings release. Analysts, including one from Citigroup, maintain a positive outlook with a target price of $45.

Portfolio Pulse from Benzinga Insights

April 23, 2024 | 6:45 pm

Shares of precious metals stocks are trading lower due to a retreat in gold and silver prices from their recent highs.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 10:16 am

Gold prices fell 2.7% to below $2,350, and silver dropped 5.1%, affecting mining stocks significantly. The VanEck Gold Miners ETF (GDX) and Global X Silver Miners ETF (SIL) saw declines of 4.3% and over 3%, respectively. Major mining companies like Aya Gold & Silver Inc. (AYA), AngloGold Ashanti plc (AU), and Newmont Corporation (NEM) experienced notable drops in their stock prices. The market's shift is attributed to reduced geopolitical risks and anticipation of key U.S. economic data releases.

Portfolio Pulse from Piero Cingari

April 22, 2024 | 8:07 pm

U.S. stocks are set to break a six-day losing streak with major indices trading higher ahead of key earnings reports from Visa, Tesla, Meta Platforms, Microsoft, and Alphabet. Gold and silver prices dropped significantly, while Bitcoin rose above $66,000. The SPDR S&P 500 ETF Trust, SPDR Dow Jones Industrial Average, and Invesco QQQ Trust all saw gains. Ford Motor and Wolfspeed Inc. experienced notable stock movements due to upcoming earnings and activist investor actions, respectively. Informatica Inc. dropped after denying acquisition talks, and Cardinal Health fell following contract renewal news with UnitedHealth Group's OptumRx.

Portfolio Pulse from Piero Cingari

April 22, 2024 | 6:16 pm

Shares of precious metals stocks are trading lower due to a decrease in the price of gold and silver, affecting a broad range of companies in the sector.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 10:51 am

The upcoming week's earnings reports from major companies like Tesla, Meta Platforms, Microsoft, and Alphabet are highly anticipated as they could influence the market's direction. FactSet's report indicates that S&P 500 companies' earnings surprises are at or above their 10-year averages, despite a slight decline in the combined earnings per share growth rate. The focus shifts to tech companies, with 158 S&P 500 companies, including 11 Dow 30 components, expected to release their earnings. Tesla is expected to report a downbeat quarter, while Microsoft, Alphabet, and Meta are anticipated to report strong results. The SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust (QQQ) have seen declines from their all-time highs.

Portfolio Pulse from Shanthi Rexaline

April 21, 2024 | 9:45 pm

U.S. Gold (NASDAQ:USAU) closed a $4.9M offering, aiming to boost its CK project in Wyoming. Compass Minerals (NYSE:CMP) faces an investigation by Glancy Prongay & Murray LLP due to potential federal securities law violations after a 17.1% stock drop, linked to the U.S. Forest Service's decision against using its fire retardants. Newmont (NYSE:NEM) appointed Francois Hardy as CTO, enhancing its executive leadership. Analysts have updated Alcoa's (NYSE:AA) ratings and price targets following its Q1 earnings, with mixed views on its stock value.

Portfolio Pulse from austin@walkonholdings.com

April 19, 2024 | 7:51 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.