Newmont Corporation (NEM) has persistently caught the attention of investors, despite the stock sliding as the overall market rises. Investors still consider it as a good breakout stock to invest in. This is backed by numerous reasons such as its track record of surpassing earnings estimates, therefore potentially being able to beat again in its coming earnings report. Institutional investors also control a significant portion (72%) of the stock and reaped rewards as the stock recently surged. However, not all market activity has been positive. Instances of significant sales of shares by insiders, such as EVP & CDO Peter Toth and President & CEO Thomas Palmer, have been reported. Nonetheless, Wall Street retains a bullish outlook, as seen in some brokers recommending the stock and at least one analyst upgrading the stock rating. Newmont's financial performance is also acceptable, with Q2 earnings and revenues topping estimates, and a 25% stock gain in 3 months. Yet, concerns about overpricing and the notion that investing in Newmont may be driven by FOMO (Fear of Missing Out) exist. Despite these apprehensions, investors remain attracted to NEM, which continues to trend.
Newmont Corporation NEM News Analytics from Mon, 08 Jan 2024 08:00:00 GMT to Sat, 05 Oct 2024 10:44:19 GMT - Rating 4 - Innovation 2 - Information 8 - Rumor 5
