Checking the Overall Picture for Newmont Mining Corporation (NEM)

Newmont Mining Corporation (NEM) is an interesting player in the Basic Materials space, with a focus on Gold. The stock has been active on the tape, currently trading at $38.84, up from yesterday’s close by 1.30%. Given the stock’s recent action, it seemed like a good time to take a closer look at the company’s recent data.

Fundamental Analysis

Newmont Mining Corporation (NEM) currently trades with a market capitalization of $20.70 Billion. That value represents a market adjusting for revenues that have been growing by 4.91 % on a quarterly year/year basis as of the company’s last quarterly report.

You can get a sense of how sustainable that is by a levered free cash flow of $1.36 Billion over the past twelve months. Generally speaking, earnings are expected to fall in coming quarters. Analysts are forecasting earnings of $0.37 on a per share basis this quarter. Perhaps, that suggests something about why 0.63% of the outstanding share supply is held by institutional investors.

Technical Analysis

As most professionals know, technical analysis can offer critical insights into what smart money and insiders think about a stock’s prospects going forward. Looking at the stock’s movement on the chart, Newmont Mining Corporation recorded a 52-week high of $39.63. It is now trading 0.79% off that level. The stock is trading $36.65 its 50-day moving average by -2.19%. The stock carved out a 52-week low down at $31.42.

In recent action, Newmont Mining Corporation (NEM) has made a move of +12.29% over the past month, which has come on weak relative transaction volume. Over the trailing year, the stock is underperforming the S&P 500 by 21.04, and it’s gotten there by action that has been less volatile on a day-to-day basis than most other stocks on the exchange. In terms of the mechanics underlying that movement, traders will want to note that the stock is trading on a float of 1.58% with $531.83 Million sitting short, betting on future declines. That suggests something of the likelihood of a short squeeze in shares of NEM.

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