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

46.67

Mkt cap

52B

Volume

8.6M

High

46.83

P/E Ratio

16.17

52-wk high

58.72

Low

45.82

Div yield

0.02

52-wk low

33.29

Gold prices hit a new all-time high, driven by expectations of a Fed rate cut in September. This surge has positively impacted gold mining stocks, with the VanEck Gold Miners ETF (GDX) reaching its highest level since April 2022. Bank of America predicts strong earnings for gold miners, suggesting potential increases in dividends and share buybacks.

Portfolio Pulse from Piero Cingari

July 16, 2024 | 8:02 pm

Newmont (NYSE:NEM) has seen a surge in options activity, with 18 uncommon trades spotted by Benzinga's options scanner. The sentiment is split, with 55% bullish and 33% bearish. The stock is currently trading at $48.41, up by 2.25%. Analysts have given positive ratings, with price targets ranging from $50 to $61.

Portfolio Pulse from Benzinga Insights

July 16, 2024 | 4:31 pm

Shares of precious metals stocks are trading higher as gold and silver rise following US jobs data.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2024 | 3:31 pm

Shares of precious metals stocks are trading higher as gold and silver rise amid a drop in the dollar following key US economic data.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2024 | 2:58 pm

B of A Securities analyst Michael Jalonen maintains a Buy rating on Newmont (NYSE:NEM) and raises the price target from $49 to $50.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 4:20 pm

Whales have shown a bullish stance on Newmont (NYSE:NEM) with significant options trading activity. The trading volume and open interest suggest a focus on a price band between $25.0 and $42.5. Analysts have a positive outlook with an average target price of $50.0, and UBS has upgraded the stock to Buy.

Portfolio Pulse from Benzinga Insights

June 25, 2024 | 8:45 pm

Wealthy investors have taken a bearish stance on Newmont (NYSE:NEM), as observed through recent options trades. The sentiment is predominantly bearish, with 62% of the trades reflecting this outlook. Analysts have mixed ratings, with a price target range of $48 to $50.

Portfolio Pulse from Benzinga Insights

June 20, 2024 | 3:15 pm

Analysts have provided mixed ratings for Newmont (NYSE:NEM) over the past three months, with a recent trend towards more bullish perspectives. The average 12-month price target has increased slightly to $48.29. Key analysts have adjusted their ratings and price targets, reflecting their evolving views on Newmont's market position and financial performance.

Portfolio Pulse from Benzinga Insights

June 17, 2024 | 8:01 pm

UBS analyst Daniel Major has upgraded Newmont (NYSE:NEM) from Neutral to Buy and raised the price target from $40 to $50.

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 5:30 pm

Wall Street hit record highs on Friday following a stronger-than-expected jobs report. Non-farm payrolls increased by 272,000 in May, surpassing expectations. This led to a reassessment of rate-cut hopes, causing bond yields to rise and fixed-income markets to drop. The S&P 500 and Nasdaq 100 reached new highs, while small caps fell. The U.S. dollar index rallied, pressuring commodities like gold and silver. Major ETFs and stocks had mixed performances, with notable declines in GameStop, AMC, and mining stocks.

Portfolio Pulse from Piero Cingari

June 07, 2024 | 5:54 pm

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