Newmont Corporation (NEM) has consistently featured in news due to its compelling activities and corresponding investor sentiments. While seen as a top value stock for long-term investment, recent developments such as the offloading of 9.5M Star Diamond shares and a string of weak performances that led to a 15% drop in the stock in October require scrutiny. Despite these, there's interest stemming from its current perceived undervaluation and strong momentum as a gold stock according to hedge funds. In a twist, there are further losses with stock declines of 11% this week, intensifying three-year losses to 31%. However, NEM is attracting investor attention, supported by its cost management, boosted gold production, and despite a recent disappointing quarter. The corporation is undergoing major corporate restructuring such as cutting management jobs and has reported third-quarter results. Despite the stock skidding 30% from its 52-week high, it's seen as a good breakout stock by some. Analysts advise buying into the dip, as there's been a significant quarterly profit since 2019, thanks to the gold surge. Finally, the company is planning to sell CC&V to SSR Mining for up to $275 million.
Newmont Corporation NEM News Analytics from Mon, 22 Jul 2024 07:00:00 GMT to Fri, 20 Dec 2024 14:00:12 GMT -
