The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Newmont Corp shares valued at $540,670 were sold by Palmer Thomas Ronald on Dec 02 ’24. At $41.59 per share, Palmer Thomas Ronald sold 13,000 shares. The insider’s holdings dropped to 245,469 shares worth approximately $9.4 million following the completion of this transaction.
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Also, Toth Peter sold 3,000 shares, netting a total of over 124,770 in proceeds. Following the sale of shares at $41.59 each, the insider now holds 85,596 shares.
Before that, Viljoen Natascha had sold 9,000 shares from its account. In a trade valued at $374,310, the EVP & COO traded Newmont Corp shares for $41.59 each. Upon closing the transaction, the insider’s holdings decreased to 9,000 shares, worth approximately $5.94 million.
As published in their initiating research note from CLSA on November 29, 2024, Newmont Corp [NEM] has been an Underperform. Analysts at JP Morgan upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in mid November. As of October 30, 2024, UBS has decreased its “Buy” rating to a “Neutral” for NEM. Earlier on October 28, 2024, CIBC downgraded its rating. Their new recommendation was “a Neutral” for NEM stock which previously was a “a Sector outperform”.
Analyzing NEM Stock Performance
During the last five days, there has been a drop of approximately -3.74%. Over the course of the year, Newmont Corp shares have dropped approximately -7.44%. 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 $44.63, while a 200-day SMA reached $44.84. Nevertheless, trading volume fell to 3.55 million shares from 8.25 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 38.01, which, if violated, would cause prices to drop to 37.72. In the upper region, resistance lies at 38.46. The next price resistance is at 38.62. RSI (Relative Strength Index) is 33.06 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.66, which suggests the price will decrease in the coming days. Percent R is at 75.45%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
