Newmont Corporation’s Stock Price Soars to $39.65, Marking an Impressive Increase of +5.12%

Newmont Corporation (NEM)

39.65 USD +1.93 (+5.12%) Volume: 20.82M

Newmont Corporation’s stock price surges by +5.12% in today’s trading session, currently standing at 39.65 USD with a trading volume of 20.82M, despite a year-to-date percentage change of -4.20%, showcasing a dynamic performance in the trading market.

Latest developments on Newmont Corporation

Newmont Mining, one of the biggest gold miners, has been making significant moves in the market recently. The company recently concluded a $20M Global Community Support Fund, which has been met with positive reception for its emphasis on community resilience. Despite a general market dip, Newmont’s stock (NEM) showed gains, further bolstered by a soaring gold price. This has led to an increase in unusual options activity for Newmont. Financial giant Citi has given a buy recommendation for Newmont, joining other brokers in backing the company as gold prices continue to soar.

Newmont Corporation on Smartkarma

Newmont Mining has recently received coverage from independent analysts on Smartkarma, a platform where top analysts publish research on various companies. According to Baptista Research, Newmont Corporation, the parent company of Newmont Mining, has released its fourth-quarter 2023 earnings and 2024 guidance. The company reported strong operational performance, producing 5.5 million ounces of gold and generating adjusted EBITDA of $4.2 billion. This has allowed Newmont to return over $1.4 billion to shareholders and maintain a liquidity of above $6 billion. Baptista Research also discusses the company’s balanced capital allocation strategy and its potential impact on future growth.

Travis Lundy, another independent analyst on Smartkarma, also covers Newmont Mining. Lundy notes that the recent selldown of Newcrest Mining (NCM) has resulted in increased buying activity on Newmont Mining (NEM). Lundy highlights the significance of settlement logistics in this trade and suggests checking with custodians and brokers for potential opportunities. Lundy also mentions that today’s trade in Newmont Mining in New York was impacted by the lack of risk-taking by passive managers. This highlights the importance of closely monitoring market trends and behavior for successful investment decisions.

A look at Newmont Corporation Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Newmont Mining Corporation is a company that specializes in acquiring, exploring, and developing mineral properties. With operations in the United States, Australia, Peru, Indonesia, Ghana, Canada, New Zealand, and Mexico, the company has a diverse portfolio. Their main focus is on producing gold, but they also mine and process copper in Indonesia.

According to Smartkarma’s Smart Scores, Newmont Mining has a positive long-term outlook. The company scores high in value and dividend, indicating that it is a good investment for those looking for stable returns. However, their growth score is lower, suggesting that the company may not see significant growth in the future. Despite this, Newmont Mining scores well in resilience and momentum, meaning that it is able to withstand challenges and has a steady performance. Overall, Smartkarma’s scores show that Newmont Mining is a strong and reliable company with a promising future ahead.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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