Insider Selling: Atkinson Robert D, Newmont Corporation [NEM] EVP & COO divested 3,000 shares

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Newmont Corporation shares valued at $136,050 were sold by Atkinson Robert D on Aug 01. At $45.35 per share, Atkinson Robert D sold 3,000 shares. The insider’s holdings dropped to 48,947 shares worth approximately $2.22 million following the completion of this transaction.

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Also, Palmer Thomas Ronald sold 11,000 shares, netting a total of over 498,850 in proceeds. Following the sale of shares at $45.35 each, the insider now holds 254,949 shares.

Before that, Atkinson Robert D had sold 3,000 shares from its account. In a trade valued at $178,290, the EVP & COO traded Newmont Corporation shares for $59.43 each. Upon closing the transaction, the insider’s holdings decreased to 3,000 shares, worth approximately $2.93 million.

As published in a research note from National Bank Financial on July 27, 2022, Newmont Corporation [NEM] has been rated up from a Sector perform to an Outperform. Analysts at Canaccord Genuity upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in late July. As of April 25, 2022, Bernstein has decreased its “an Outperform” rating to a “Mkt perform” for NEM. Earlier on April 20, 2022, National Bank Financial downgraded its rating. Their new recommendation was “a Sector perform” for NEM stock which previously was a “an Outperform”.

Analyzing NEM’s Price Performance

On Thursday, Newmont Corporation [NYSE: NEM] rose 1.98% to $45.28. The stock’s lowest price that day was $44.34, but it reached a high of $45.8751 in the same session. During the last five days, there has been a drop of approximately -1.16%. Over the course of the year, Newmont Corporation shares have dropped approximately -26.99%. Shares of the company reached a 52-week high of $86.37 on 04/18/22 and a 52-week low of $43.90 on 08/03/22. A 50-day SMA is recorded $59.26, while a 200-day SMA reached $64.01. Nevertheless, trading volume fell to 10.38 million shares from 11.02 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 44.45, which, if violated, would cause prices to drop to 43.63. In the upper region, resistance lies at 45.99. The next price resistance is at 46.70. RSI (Relative Strength Index) is 23.70 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.17, which suggests the price will decrease in the coming days. Percent R is at 88.63%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Newmont Corporation subject to short interest?

Stocks of Newmont Corporation saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.5 million shares to 11.32 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 11.82 million shares. A decline of -4.42% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.69 of the overall float, the days-to-cover ratio (short ratio) decline to 1.69.

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 transaction, BlackRock Fund Advisors’s stake is now worth $2,829,239,386. SSgA Funds Management, Inc. acquire a 0.67% interest valued at $2.42 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 $1.2 billion.


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