Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Newmont Corporation shares valued at $267,240 were sold by Gottesfeld Stephen P on Jun 09. At $66.81 per share, Gottesfeld Stephen P sold 4,000 shares. The insider’s holdings dropped to 83,753 shares worth approximately $5.41 million following the completion of this transaction.
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Also, Atkinson Robert D sold 3,000 shares, netting a total of over 202,920 in proceeds. Following the sale of shares at $67.64 each, the insider now holds 67,617 shares.
Before that, Palmer Thomas Ronald had sold 11,000 shares from its account. In a trade valued at $744,040, the President & CEO traded Newmont Corporation shares for $67.64 each. Upon closing the transaction, the insider’s holdings decreased to 11,000 shares, worth approximately $17.89 million.
As published in a research note from Bernstein on April 25, 2022, Newmont Corporation [NEM] has been rated down from an Outperform to a Mkt perform and the price target has been revised to $57. This represents a -13.3% premium over Wednesday’s closing price. Analysts at National Bank Financial downgraded the stock from ‘”an Outperform”‘ to ‘”a Sector perform”‘ outlook in a report released in mid April. As of April 19, 2022, Credit Suisse has decreased its “an Outperform” rating to a “Neutral” for NEM. Earlier on February 09, 2022, Canaccord Genuity downgraded its rating. Their new recommendation was “a Hold” for NEM stock which previously was a “a Buy”.
Analyzing NEM’s Price Performance
On Wednesday, Newmont Corporation [NYSE: NEM] plunged -0.91% to $64.58. The stock’s lowest price that day was $64.54, but it reached a high of $66.24 in the same session. During the last five days, there has been a surge of approximately 2.36%. Over the course of the year, Newmont Corporation shares have jumped approximately 4.13%. Shares of the company reached a 52-week high of $86.37 on 04/18/22 and a 52-week low of $57.87 on 01/06/22. A 50-day SMA is recorded $70.49, while a 200-day SMA reached $64.16. Nevertheless, trading volume fell to 5.41 million shares from 7.81 million shares the previous day.
Support And Resistance Levels for Newmont Corporation (NEM)
According to the 24-hour chart, there is a support level at 64.00, which, if violated, would cause prices to drop to 63.42. In the upper region, resistance lies at 65.70. The next price resistance is at 66.82. RSI (Relative Strength Index) is 42.57 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.22, which suggests the price will decrease in the coming days. Percent R is at 59.56%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Which companies own the most shares of Newmont Corporation (NEM)?
According to The Vanguard Group, Inc. filings, the company currently owns 63,662,979 shares, which is about 8.02% of the total NEM shares outstanding. The investor’s shares have appreciated by 1,283,539 from its previous 13-F filing of 62379440.0 shares. With the completion of the sale, BlackRock Fund Advisors’s stake is now worth $3,217,092,212. SSgA Funds Management, Inc. acquire a 0.67% interest valued at $2.76 billion while Van Eck Associates Corp. sold a -5,657,907 stake. A total of 20,699,677 shares of Newmont Corporation were sold by GQG Partners LLC during the quarter, and 1,033,463 were bought by BlackRock Investment Management. In its current portfolio, Fidelity Management & Research Co holds 20,100,019 shares valued at $1.36 billion.
In terms of Newmont Corporation share price expectations, FactSet research, analysts set an average price target of $80.52 in the next 12 months, up nearly 22.76% from the previous closing price of $65.17. Analysts anticipate Newmont Corporation stock to reach $100.00 by 2022, with the lowest price target being $54.00. In spite of this, 22 analysts ranked Newmont Corporation stock as an Overweight at the end of 2022.