Newmont Corporation’s Stock Price Dips to $30.01, Experiencing a 4.06% Decrease: An In-depth Analysis of NEM’s Performance

Newmont Corporation (NEM)

30.01 USD -1.27 (-4.06%) Volume: 23.5M

Newmont Corporation’s stock price stands at 30.01 USD, witnessing a drop of -4.06% this trading session with a trading volume of 23.5M. The stock has experienced a significant decline of -27.49% YTD, indicating a challenging market performance.

Latest developments on Newmont Corporation

Amid gold price stagnation, Newmont Mining stock has been downgraded to hold by Argus. This follows a key transaction where Fury Gold Mines purchased Newmont’s 50% stake in the Éléonore South project in Quebec, consolidating their interests to 100%. Despite revenues beating expectations in their Full Year 2023 earnings report, the company’s EPS lagged, leading to a new 12-month low for Newmont (NYSE:NEM) after an earnings miss. In other news, Newmont has successfully completed a COO transition, with Rob Atkinson handing over the reins to Natascha Viljoen.

Newmont Corporation on Smartkarma

On Smartkarma, an independent investment research network, top analysts have published insightful research on companies like Newmont Mining. According to Travis Lundy‘s report, there has been a recent surge in selling of Newcrest Mining (NCM AU) shares, which may be due to passive investors avoiding potential market gaps. This has resulted in increased buying activity for Newmont Mining (NEM) shares, creating an arbitrage opportunity. In addition, there have been significant volume of shares traded and crossed post-close, indicating a cautious approach by passive managers. The settlement logistics also suggest a potential trade opportunity on 7 November, which investors may want to check with their custodian or broker.

A look at Newmont Corporation Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Newmont Mining Corporation, a company that acquires and explores mineral properties, has a positive long-term outlook according to Smartkarma Smart Scores. The company received a high score of 5 in the dividend category, indicating strong potential for dividend payouts to shareholders. Additionally, Newmont scored a 4 in value, suggesting that the company is currently undervalued and may present a good investment opportunity.

However, the company’s growth potential scored a 2, indicating a lower outlook for future growth. Newmont also received a score of 3 in both resilience and momentum, suggesting a moderate level of stability and performance in the market. Overall, Newmont Mining Corporation shows promise as a strong dividend stock with potential for value growth, but may have limited growth potential in the long term.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.

Before it’s here, it’s on Smartkarma