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Tuesday, September 29, 2020

The Unprecedented Rise of Newmont Corporation (NYSE:NEM)

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The Newmont Corporation (NEM) shares are trading at lower $67.89 and the avg recommendation for the stock is Moderate Buy. while the current analyst price target stands at $75.47.

To add more color to this target, the company’s high over the last year is $70.30 and the low is $33.00. Over the last 52 weeks, NEM is down -3.43% while the S&P 500 is up 1.23%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, NEM reported a profit of $1.25 billion. Newmont Corporation also saw revenues increase to $2.58 billion. In addition, NEM has free cash flow of $608.0 million as of 03-2020. The company’s EBITDA came in at $1.02 billion which compares well with its peers.

NEM booked profit margins of 33.70%, its Return on Equity (ROE) is 16.90%, and its Return on Assets is 9.00%. All told, it is clear that, NEM needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. NEM has a short ratio of 1.16 and outstanding shares of 807.00M.

Company Outlook

NEM has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 8.29 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 4.40. Newmont Corporation NEM also noted assets of $39.7 billion at the end of the last quarter. Investors should also keep an eye on sector updates as NEM has historically followed its peers on positive news.

All told, Newmont Corporation NEM has strung together solid data and demonstrated underlying fundamentals. At its current valuation, NEM represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Newmont Corporation NEM is now commanding a market cap of 53.69B and a float of 800.27M. NEM is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of NEM stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in NEM, either long or short, and we have not been compensated for this article.

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