Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Newmont Corp shares valued at $161,430 were sold by Toth Peter on Oct 01 ’24. At $53.81 per share, Toth Peter sold 3,000 shares. The insider’s holdings dropped to 91,596 shares worth approximately $4.51 million following the completion of this transaction.
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Also, Palmer Thomas Ronald sold 20,000 shares, netting a total of over 1,076,200 in proceeds. Following the sale of shares at $53.81 each, the insider now holds 271,469 shares.
Before that, Palmer Thomas Ronald had added 20,000 shares to its account. In a trade valued at $1,076,200, the Officer bought Newmont Corp shares for $53.81 each.
As published in a research note from Argus on August 29, 2024, Newmont Corp [NEM] has been rated up from a Hold to a Buy. Analysts at Scotiabank upgraded the stock from ‘”a Sector perform”‘ to ‘”a Sector outperform”‘ outlook in a report released in mid August. As of July 10, 2024, CIBC has increased its “Neutral” rating to a “Sector outperform” for NEM. Earlier on July 08, 2024, JP Morgan downgraded its rating. Their new recommendation was “a Neutral” for NEM stock which previously was a “an Overweight”.
Analyzing NEM Stock Performance
During the last five days, there has been a drop of approximately -12.83%. Over the course of the year, Newmont Corp shares have jumped approximately 18.99%. Shares of the company reached a 52-week high of $58.72 on 10/22/24 and a 52-week low of $29.42 on 02/28/24. A 50-day SMA is recorded $53.34, while a 200-day SMA reached $43.02. Nevertheless, trading volume fell to 36.94 million shares from 10.78 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 46.65, which, if violated, would cause prices to drop to 44.06. In the upper region, resistance lies at 54.12. The next price resistance is at 59.00. RSI (Relative Strength Index) is 33.21 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.20, which suggests the price will decrease in the coming days. Percent R is at 96.73%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
