Newmont Corp’s recently made public that its EVP & COO Atkinson Robert D unloaded Company’s shares for reported $0.23 million on Jan 02 ’24. In the deal valued at $41.26 per share,5,500 shares were sold. As a result of this transaction, Atkinson Robert D now holds 54,251 shares worth roughly $2.14 million.
Then, Atkinson Robert D sold 5,500 shares, generating $221,375 in total proceeds. Upon selling the shares at $40.25, the EVP & COO now owns 59,751 shares.
Before that, Palmer Thomas Ronald sold 11,000 shares. Newmont Corp shares valued at $413,600 were divested by the President & CEO at a price of $37.60 per share. As a result of the transaction, Palmer Thomas Ronald now holds 234,039 shares, worth roughly $9.22 million.
A number of analysts have revised their coverage, including Argus’s analysts, who decreased its forecast for the stock in late February from “a Buy” to “a Hold”. TD Securities also remained covering NEM and has decreased its forecast on January 09, 2024 with a “Hold” recommendation from previously “Buy” rating. Macquarie started covering the stock on November 21, 2023. It rated NEM as “an Outperform”.
Price Performance Review of NEM
On Monday, Newmont Corp [NYSE:NEM] saw its stock fall -0.63% to $39.40. Over the last five days, the stock has gained 8.15%. Newmont Corp shares have fallen nearly -4.81% since the year began. Nevertheless, the stocks have fallen -24.33% over the past one year. While a 52-week high of $52.16 was reached on 01/02/24, a 52-week low of $29.42 was recorded on 02/28/24. SMA at 50 days reached $33.95, while 200 days put it at $38.09. A total of 16.26 million shares were traded, compared to the trading of 4.53 million shares in the previous session.
Levels Of Support And Resistance For NEM Stock
The 24-hour chart illustrates a support level at 39.00, which if violated will result in even more drops to 38.60. On the upside, there is a resistance level at 39.97. A further resistance level may holdings at 40.54. The Relative Strength Index (RSI) on the 14-day chart is 74.02, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 3.04, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 10.80%. Stochastics %K at 91.72% indicates the stock is a selling.
How much short interest is there in Newmont Corp?
A steep rise in short interest was recorded in Newmont Corp stocks on Mar 15, 2024, growing by 4.35 million shares to a total of 22.31 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 17.96 million shares. There was a rise of 19.5%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.47% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.21.
