Newmont Corporation (NEM), a prominent name in the Gold mining sector, received mixed attention from the market, with stock oscillating between significant gains and dips. A key highlight is the company's divestiture of Telfer and Havieron to Greatland Gold for $475M, part of its effort to offload non-core assets. Despite market fluctuations, institutional investors, who control 72% of the corporation, reaped rewards following a 5.9% increase in stock. Adding to the bullish sentiment, Wall Street provided a positive outlook on gold prices which pushed NEM's rating higher. The company also witnessed a 25% gain in 3 months and 37% return over the last year for shareholders. The gains, however, lagged behind broader market returns in certain periods. Forecasts for Q1 and Q2 results were positive, especially given strong gold pricing. Despite the pandemic's challenges, insider trading activities were observed, with C-suite executives selling off shares. Intriguingly, the corporation was valued as being driven by investor FOMO. Wall Street consensus saw NEM as a good investment, even as some felt its popularity was under threat from overpricing. The company has a two billion dollar private offering of Senior Notes.
Newmont Corporation NEM News Analytics from Fri, 19 Jan 2024 08:00:00 GMT to Sat, 14 Sep 2024 15:46:42 GMT -
Rating 2
- Innovation 5
- Information 8
- Rumor -7
