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Newmont Corp (NEM) receives a Buy rating from Jefferies

In a filing, Newmont Corp revealed 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 $2.29 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 $9.89 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 -1.10% to $42.26. Over the last five days, the stock has gained 12.81%. Newmont Corp shares have risen nearly 2.10% since the year began. Nevertheless, the stocks have fallen -12.45% over the past one year. While a 52-week high of $50.18 was reached on 04/25/24, a 52-week low of $29.42 was recorded on 02/28/24. SMA at 50 days reached $35.66, while 200 days put it at $37.85. A total of 13.02 million shares were traded, compared to the trading of 14.69 million shares in the previous session.

Levels Of Support And Resistance For NEM Stock

The 24-hour chart illustrates a support level at 41.54, which if violated will result in even more drops to 40.82. On the upside, there is a resistance level at 42.95. A further resistance level may holdings at 43.64. The Relative Strength Index (RSI) on the 14-day chart is 68.40, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 3.40, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 22.57%. Stochastics %K at 84.82% indicates the stock is a selling.

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