Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Newmont Corp shares valued at $590,850 were sold by Palmer Thomas Ronald on Nov 01 ’24. At $45.45 per share, Palmer Thomas Ronald sold 13,000 shares. The insider’s holdings dropped to 258,469 shares worth approximately $11.67 million following the completion of this transaction.
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Also, Toth Peter sold 3,000 shares, netting a total of over 136,350 in proceeds. Following the sale of shares at $45.45 each, the insider now holds 88,596 shares.
Before that, Toth Peter had added 3,000 shares to its account. In a trade valued at $136,350, the Officer bought Newmont Corp shares for $45.45 each.
As published in a research note from UBS on October 30, 2024, Newmont Corp [NEM] has been rated down from a Buy to a Neutral and the price target has been revised to $54 from $67. Analysts at CIBC downgraded the stock from ‘”a Sector outperform”‘ to ‘”a Neutral”‘ outlook in a report released in late October. As of October 25, 2024, Scotiabank has decreased its “Sector outperform” rating to a “Sector perform” for NEM. Earlier on August 29, 2024, Argus upgraded its rating. Their new recommendation was “a Buy” for NEM stock which previously was a “a Hold”.
Analyzing NEM Stock Performance
During the last five days, there has been a drop of approximately -0.62%. Over the course of the year, Newmont Corp shares have jumped approximately 9.11%. 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 $52.33, while a 200-day SMA reached $43.54. Nevertheless, trading volume fell to 11.72 million shares from 18.6 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 44.45, which, if violated, would cause prices to drop to 43.74. In the upper region, resistance lies at 45.62. The next price resistance is at 46.08. RSI (Relative Strength Index) is 29.84 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.85, which suggests the price will decrease in the coming days. Percent R is at 89.68%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
