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Stock Charts AI Power Rank: 8.1
Power Rank trend -> Falling
07/26/2024 16:15:00 EST
Newmont Goldcorp Corp (NEM)
Industry: Gold
Follow @stockchartsai on TwitterPrice Support Resistance
In the past 20 trading days, NEM has been trading in a range between $48.32 and $41.65 (gray range band). Red lines on the chart represent key resistance levels and Green lines represent key support levels. As the price moves above the lines you will notice they turn green and red if price moves below a line.
NEM is trading below resistance at $48.32, about 3% to the upside. There is support at $41.89 -10% to the downside. If it can break above the resistance, it could have some more upside. If the price starts to turn down and fails to get through this level or enters a yellow zone, we would consider profit taking or exiting the position. If it enters a red zone on the chart we would exit the position.
Upside / Downside Potential
Newmont Goldcorp Corp $NEM entered a Green zone 28 days ago on the AI powered stock chart. Wall Street analysts have an AVG target price $75.9, a potential upside of 62.42% from the recent price of 46.73. The stock is trading 4.79% (potential upside) below its 52 week high of $48.97 and 61.03 % (potential downside) above its 52 week low of $29.02 - based on the recent price.
Company Summary
Newmont Corporation engages in the production and exploration of gold It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.
News
| Newmont: Buy The Dip As The Bullish Thesis Plays Out As Forecast Newmont's Q2 results were in line with my forecast. I'm buying the dip as cash flow will increase further, NEM is still undervalued, and asset sales will act as a bullish catalyst. The shares could still drift lower before they reverse, but I still expect NEM to hit new highs for the year within the next few months. Source: Seeking Alpha Sat, 27 Jul 2024 00:56:56 -0400 Sentiment: Positive |
| Newmont Corporation (NEM) Q2 2024 Earnings Call Transcript Newmont Corporation (NYSE:NEM ) Q2 2024 Earnings Conference Call July 25, 2024 11:00 AM ET Company Participants Thomas Palmer - President and CEO Natascha Viljoen - EVP and COO Karyn Ovelmen - EVP and CFO Conference Call Participants Lawson Winder - Bank of America Securities Daniel Major - UBS Tanya Jakusconek - Scotiabank Matthew Murphy - Jefferies Anita Soni - CIBC Wall Markets Bob Brackett - Bernstein Research Brian MacArthur - Raymond James Michael Parkin - National Bank Operator Good morning, and welcome to Newmont's Second Quarter 2024 Earnings Call. [Operator Instructions]. Source: Seeking Alpha Thu, 25 Jul 2024 16:00:14 -0400 Sentiment: Neutral |
| Newmont: Q2 Margins Soar On Back Of Record Gold Price Newmont reported mediocre Q2 operating results with production dragged down by a suspension of operations at Cerro Negro and weaker output from NGM and Pueblo Viejo. Fortunately, higher metals prices (namely gold) picked up all of the slack, helping Newmont to report higher AISC margins of $785/oz and return to significant free cash flow generation. In this update, we'll dig into the Q2 results, recent developments, and whether the stock is worthy of investment ahead of further margin gains in 2025. Source: Seeking Alpha Thu, 25 Jul 2024 15:39:19 -0400 Sentiment: Positive |
| Mining Stock Tumbles as Oil Prices Soften Newmont Corporation (NYSE:NEM) stock is down 3.5% to trade at $46.07 at last check, brushing off a second-quarter earnings and revenue beat as gold prices soften. Source: Schaeffers Research Thu, 25 Jul 2024 15:17:54 -0400 Sentiment: Negative |
| Gold Hits All-Time Highs and 5 Dividend Stocks Earnings Could Explode 24/7 Wall St. Insights Some top Wall Street strategists feel the AI tech rally is overextended. Source: 24/7 Wall Street Thu, 25 Jul 2024 14:47:02 -0400 Sentiment: Positive |
Technicals 52 Week Hi: 48.97 52 Week Low: 29.0155 Beta: 0.488 50 Day MA: 43.3622 200 Day MA: 38.7813 Earnings / Revenue Trends Qtr Earnings Growth YOY: 2.843 Qtr Revenue Growth YOY: 0.641 Forward PE: 15.1976 Trailing PE: 0