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Friday, September 29, 2023

Newmont Corporation (NYSE: NEM) May Be Attracting Institutional Investments

After Hours

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. After-hours trades for Newmont Corporation (NEM) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.03, or 0.08%, to $38.85. The Newmont Corporation has recorded 199,444 volume in the after hours trading session. Recently, Yahoo Finance discussed the stock, revealing that Newmont Announces Date of Special Meeting of Stockholders and Filing of Definitive Proxy Statement for Acquisition of Newcrest.

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Stocks Info

Newmont Corporation is listed on the NYSE as a member of the Basic Materials sector and is a part of the Gold industry. At the end of the last regular session, the stock closed at $38.82 and fluctuated between $39.20 as its day high and $38.51 as its day low. The current market capitalization of Newmont Corporation is $30.56B. A total of 5.39 million shares were traded on the day, compared to an average of 6.99M shares.

Insider Activity

Additionally, investors take into account insider trades when predicting how a stock will perform. During the recent three months, NEM has seen 2 BUY and 3 SELL insider trades, representing the acquisition of 41,637 and the disposition of 34,790 shares. Over the last 12 months, there were 28 BUYs and 41 SELLs from insiders. Insiders purchased 411,772 shares during that period but sold 218,137.

In the most recent transaction, Palmer Thomas Ronald sold 11,000 shares of NEM for 39.91 per share on Sep 01. After the transaction, the President & CEO now owns 256,039 company shares. In a previous transaction on Sep 01, Atkinson Robert D sold 5,500 shares at 39.91 per share. NEM shares that EVP & COO owns now total 76,251.

Among the insiders who sold shares, Ebel Mark David disposed of 183 shares on Sep 01 at a per-share price of $39.91. This resulted in the Interim Chief Legal Officer holding 22,137 shares of NEM after the transaction. In another insider transaction, Palmer Thomas Ronald sold 11,000 shares at $42.16 per share on Aug 01. Company shares held by the President & CEO now total 267,039.


It is more appealing for investors to invest in companies that pay dividends because dividends generate immediate cash flow and indicate a positive outlook for the company. NEM’s most recent ex-dividend date was 9/6/2023 when it declared a $0.40 quarterly dividend that was paid in cash on 9/21/2023. Previously, the company paid the dividend on 6/15/2023 with an ex-dividend date of 5/31/2023. The NEM stock dividend was $0.40 per share in cash.

Though price targets are rarely accurate, they can exert some influence from time to time and were often accepted as valuable by the market. According to analysts who have offered 12-month price targets for NEM in the last 3 months, the mean price target is $53.80 with high estimates of $68.31 and low estimates of $39.12. In terms of 52-week highs and lows, NEM has a high of $55.41 and a low of $37.45.

As of this writing, NEM has an earnings estimate of $0.73 per share for the current quarter. EPS was calculated based on a consensus of 7 estimates, with a high estimate of $0.94 per share and a lower estimate of $0.6. The company reported an EPS of $0.53 in the last quarter, which was 26.20% higher than expectations of $0.42.

Balance Sheet Annually/Quarterly

A balance sheet is a report that shows the company’s assets and liabilities. In addition, it shows how much equity investors have invested in the company. Investors can determine the company’s prospects by calculating its financial ratios based on this information. NEM’s latest balance sheet shows that the firm has $5.07B in Cash & Short Term Investments as of fiscal 2021. There were $6.30B in debt and $2.65B in liabilities at the time. Its Book Value Per Share was $24.18, while its Total Shareholder’s Equity was $21.86B.

Analysts Opinion

It may be riskier to trade before market opening and after market closing than during regular market hours. Since issuers often announce critical financial information outside regular trading hours. Extended-hours trading may result in wider spreads for particular securities due to lower liquidity and higher volatility. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for NEM is Buy with a score of 4.19.

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