Overall market sentiment has been high on Newmont Corporation (NEM) stock lately. NEM receives a Bullish rating from InvestorsObserver's Stock Sentiment Indicator.
What is Stock Sentiment?
Sentiment uses short term technical analysis to gauge whether a stock is desired by investors. As a technical indicator, it focuses on recent trends as opposed to the long term health of the underlying company. Updates for the company such as a earnings release can move the stock away from current trends.
Changes in price are generally the best indicator of sentiment for a particular stock. At its core, a stock's trend indicates whether current market sentiment is bullish or bearish. Investors must be bullish if a stock is trending upward, and are bearish if a stock is moving down.
InvestorsObserver's Sentiment Indicator factors in both price changes and variations in volume. An increase in volume usually means a current trend is stengthening, while a drop in volume tends to signal a reversal to the ongoing trend.
Our system also uses the options market in order to receive additional signals on current sentiments. We take into account the ratio of calls and puts for a stock since options allow an investor to bet on future changes in price.
What's Happening With NEM Stock Today?
Newmont Corporation (NEM) stock is higher by 1.93% while the S&P 500 has fallen -0.11% as of 9:34 AM on Monday, May 10. NEM is up $1.30 from the previous closing price of $67.33 on volume of 22,245 shares. Over the past year the S&P 500 is higher by 44.28% while NEM is up 9.02%. NEM earned $3.19 a per share in the over the last 12 months, giving it a price-to-earnings ratio of 21.67.
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More About Newmont Corporation
Newmont is the world's largest gold producer. In 2020, the company produced 5.9 million attributable ounces of gold and over 1 million attributable gold equivalent ounces from the sale of byproducts. On a long-term basis, the company expects to produce 6.5 to 7 million ounces of annual gold production while driving all-in sustaining costs down to $800 per $900 per ounce. In comparison, 2020 AISC was $1,045 per ounce.
Click Here to get the full Stock Score Report on Newmont Corporation (NEM) Stock.
