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Newmont Corporation (NYSE: NEM): Can A Stock That’s Down -11.34% YTD Still Be Considered In Loss Territory?

During the recent session, Newmont Corporation (NYSE:NEM)’s traded shares were 1.36 million, with the beta value of the company hitting 0.42. At the…

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This article was originally published by The Marketing Sentinal

During the recent session, Newmont Corporation (NYSE:NEM)’s traded shares were 1.36 million, with the beta value of the company hitting 0.42. At the last check today, the stock’s price was $54.17, reflecting an intraday loss of -1.49% or -$0.82. The 52-week high for the NEM share is $86.37, that puts it down -59.44 from that peak though still a striking 2.9% gain since the share price plummeted to a 52-week low of $52.60. The company’s market capitalization is $44.02B, and the average intraday trading volume over the past 10 days was 6.36 million shares, and the average trade volume was 6.45 million shares over the past three months.

Newmont Corporation (NYSE:NEM) trade information

Newmont Corporation (NEM) registered a -1.49% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -1.49% in intraday trading to $54.17 this Thursday, 07/14/22, hitting a weekly high. The stock’s 5-day price performance is -8.15%, and it has moved by -14.94% in 30 days. Based on these gigs, the overall price performance for the year is -13.21%. The short interest in Newmont Corporation (NYSE:NEM) is 10.99 million shares and it means that shorts have 1.76 day(s) to cover.

Newmont Corporation (NEM) estimates and forecasts

Statistics show that Newmont Corporation has underperformed its competitors in share price, compared to the industry in which it operates. Newmont Corporation (NEM) shares have gone down -9.72% during the last six months, with a year-to-date growth rate less than the industry average at 10.47% against 16.70. In the rating firms’ projections, revenue will increase 9.90% compared to the previous financial year.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 39.30%. While earnings are projected to return -58.10% in 2022.

NEM Dividends

Newmont Corporation is due to release its next quarterly earnings on July 25. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Newmont Corporation is 2.20, with the dividend yield indicating at 4.00 percent, continuing the trend of increasing dividends in recent years.

Newmont Corporation (NYSE:NEM)’s Major holders

Newmont Corporation insiders own 0.15% of total outstanding shares while institutional holders control 83.49%, with the float percentage being 83.62%. Blackrock Inc. is the largest shareholder of the company, while 1,720 institutions own stock in it. As of Mar 30, 2022, the company held over 92.34 million shares (or 11.63% of all shares), a total value of $5.02 billion in shares.

The next largest institutional holding, with 66.91 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 8.43% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $3.64 billion.

Also, the Mutual Funds coming in first place with the largest holdings of Newmont Corporation (NEM) shares are VanEck ETF Trust-VanEck Gold Miners ETF and Vanguard Total Stock Market Index Fund. Data provided on Jun 29, 2022 indicates that VanEck ETF Trust-VanEck Gold Miners ETF owns about 28.31 million shares. This amounts to just over 3.57 percent of the company’s overall shares, with a $1.54 billion market value. The same data shows that the other fund manager holds slightly less at 22.87 million, or about 2.88% of the stock, which is worth about $1.24 billion.


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