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Newmont Corp [NYSE: NEM] Sees Increase in Stock Value

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Newmont Corp shares valued at $226,930 were sold by Atkinson Robert D on Jan 02 ’24. At $41.26 per share, Atkinson Robert D sold 5,500 shares. The insider’s holdings dropped to 54,251 shares worth approximately $2.31 million following the completion of this transaction.

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Also, Atkinson Robert D sold 5,500 shares, netting a total of over 221,375 in proceeds. Following the sale of shares at $40.25 each, the insider now holds 59,751 shares.

Before that, Palmer Thomas Ronald had sold 11,000 shares from its account. In a trade valued at $413,600, the President & CEO traded Newmont Corp shares for $37.60 each. Upon closing the transaction, the insider’s holdings decreased to 11,000 shares, worth approximately $9.95 million.

Analysts at Argus downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in late February. As of January 09, 2024, TD Securities has decreased its “Buy” rating to a “Hold” for NEM. Earlier on November 21, 2023, Macquarie initiated its rating. Their recommendation was “an Outperform” for NEM stock.

Analyzing NEM Stock Performance

During the last five days, there has been a surge of approximately 1.46%. Over the course of the year, Newmont Corp shares have jumped approximately 2.68%. Shares of the company reached a 52-week high of $44.59 on 05/20/24 and a 52-week low of $29.42 on 02/28/24. A 50-day SMA is recorded $40.50, while a 200-day SMA reached $37.93. Nevertheless, trading volume fell to 9.82 million shares from 6.11 million shares the previous day.

Support And Resistance Levels for Newmont Corp (NEM)

According to the 24-hour chart, there is a support level at 41.24, which, if violated, would cause prices to drop to 39.99. In the upper region, resistance lies at 43.15. The next price resistance is at 43.81. RSI (Relative Strength Index) is 55.30 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.89, which suggests the price will decrease in the coming days. Percent R is at 46.16%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

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