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

Spot gold rose above 0.5% due to tensions in the Middle East after Tehran's attack on Israel, affecting global economic stability and pushing gold and gold miners' stocks higher. Direxion Daily Gold Miners Index Bull 2X Shares (NUGT) saw an upward reversal, tracking the gold mining sector's gains. NUGT, a leveraged ETF, is designed for experienced traders and tracks major gold and silver mining companies like Newmont Corp (NEM), Barrick Gold Corp (GOLD), and Franco-Nevada Corp (FNV).

Portfolio Pulse from Melanie Schaffer

April 16, 2024 | 5:52 pm

Argan, Inc. reported better-than-expected fourth quarter earnings, leading to a 21.5% rise in its stock price. Other stocks like Globe Life, Lyell Immunopharma, and AMTD Digital also saw significant gains amid various market activities. Coupang announced a membership fee increase, contributing to a 10.3% stock price rise. Clean Energy Fuels and other companies are expected to release financial results soon, influencing their stock movements.

Portfolio Pulse from Avi Kapoor

April 12, 2024 | 2:19 pm

Shares of precious metals stocks are trading higher due to an increase in the price of gold and silver, affecting companies like AEM, AG, AU, GFI, GOLD, HL, HMY, PAAS, SBSW, and WPM.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 12:23 pm

Shares of gold companies are experiencing an uptick due to the recent increase in gold prices, affecting stocks like AEM, GFI, GOLD, HL, NEM, and SBSW.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 11:42 am

Newmont's (NYSE:NEM) short interest has increased by 14.35% since the last report, with 22.31 million shares sold short, representing 2.47% of its float. This indicates a bearish market sentiment, although it's lower than its peer group average of 3.79%. The coverage time for these short positions is approximately 1.1 days.

Portfolio Pulse from Benzinga Insights

April 08, 2024 | 6:15 pm

Nucor Corporation introduces a weekly Consumer Spot Price for hot-rolled coil, aiming for transparent pricing. Cleveland-Cliffs praises a new DOE standard benefiting its steel production, potentially increasing demand. Newmont concludes a $20M support fund for pandemic-affected communities. Analysts adjust price targets for Newmont and Ternium, reflecting market expectations.

Portfolio Pulse from Austin DeNoce

April 05, 2024 | 8:41 pm

Gold prices soared to record highs above $2,300 per ounce, marking its sixth week of gains in the past seven, with a 4% rally despite potential delays in anticipated rate cuts by the Fed. The VanEck Gold Miners ETF (GDX) and Newmont Corp. (NEM) experienced significant gains, with GDX reaching 11-month highs and NEM recording its best week in 13 months. Other mining stocks also saw substantial increases, with First Majestic Silver Corp. (AG) leading the pack.

Portfolio Pulse from Piero Cingari

April 05, 2024 | 8:19 pm

Newmont Corporation's shares are experiencing an uptick due to the increasing strength in the gold market. This movement reflects the company's direct correlation with gold prices, as Newmont is a significant player in the gold mining industry.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 4:02 pm

Radius Recycling reported a Q2 loss with challenges in recycled metal supplies and U.S. manufacturing. American Battery received a $40.5 million award for a new recycling facility. Nexa Resources priced a $600 million offering. Newmont saw mixed investor sentiment. Vale S.A. had its price target lowered by Deutsche Bank.

Portfolio Pulse from Austin DeNoce

April 04, 2024 | 9:01 pm

Citigroup analyst Alexander Hacking has maintained a Buy rating on Newmont (NYSE:NEM) but has lowered the price target from $60 to $45.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 3:24 pm

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