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The Potential Rise in the Price of Newmont Corp (NEM) following insiders activity

In a filing, Newmont Corp revealed its President & CEO Palmer Thomas Ronald unloaded Company’s shares for reported $0.55 million on Jul 01 ’24. In the deal valued at $42.13 per share,13,000 shares were sold. As a result of this transaction, Palmer Thomas Ronald now holds 331,469 shares worth roughly $14.75 million.

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Then, Atkinson Robert D sold 5,500 shares, generating $226,930 in total proceeds. Upon selling the shares at $41.26, the EVP & COO now owns 54,251 shares.

Before that, Atkinson Robert D sold 5,500 shares. Newmont Corp shares valued at $221,375 were divested by the EVP & COO at a price of $40.25 per share. As a result of the transaction, Atkinson Robert D now holds 59,751 shares, worth roughly $2.66 million.

UBS upgraded its Newmont Corp [NEM] rating to a Buy from a a Neutral in a research note published on June 17, 2024; the price target was increased to $50 from $40. Argus also remained covering NEM and has decreased its forecast on February 26, 2024 with a “Hold” recommendation from previously “Buy” rating. TD Securities revised its rating on January 09, 2024. It rated NEM as “a Hold” which previously was an “a Buy”.

Price Performance Review of NEM

On Friday, Newmont Corp [NYSE:NEM] saw its stock jump 2.44% to $44.51. Over the last five days, the stock has gained 6.38%. Newmont Corp shares have risen nearly 7.54% since the year began. Nevertheless, the stocks have risen 5.60% over the past one year. While a 52-week high of $45.92 was reached on 07/05/24, a 52-week low of $29.42 was recorded on 02/28/24. SMA at 50 days reached $41.92, while 200 days put it at $38.18. A total of 10.21 million shares were traded, compared to the trading of 5.73 million shares in the previous session.

Levels Of Support And Resistance For NEM Stock

The 24-hour chart illustrates a support level at 44.07, which if violated will result in even more drops to 43.63. On the upside, there is a resistance level at 44.81. A further resistance level may holdings at 45.11. The Relative Strength Index (RSI) on the 14-day chart is 65.34, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.11, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 3.86%. Stochastics%K at 94.58% indicates the stock is a selling.

The most recent change occurred on November 21, 2023 when Macquarie began covering the stock and recommended ‘”an Outperform”‘ rating along with a $45 price target.

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