NEM Price Prediction Next Week
Based on the provided data and technical analysis, here's the prediction for NEM's stock price next week:
Technical Analysis
- RSI at 61.84 indicates moderate bullish momentum but approaching overbought territory
- MACD at 0.45 shows positive momentum with potential upward trend continuation
- Current price at $42.04 with Fibonacci resistance levels at $42.48 (R1) and $43.50 (R2)
News Sentiment Analysis
- Recent analyst coverage shows mixed sentiment - Scotiabank maintains Sector Perform rating with $50 price target
- Options market sentiment is bearish with 57% bearish vs 28% bullish large trades
- Gold prices hit record highs with forecasts of reaching $3,000/oz by end of 2025, which is positive for gold miners
Price Prediction for Next Week
- Support levels: $39.18 (S1), $38.16 (S2)
- Resistance levels: $42.48 (R1), $43.50 (R2)
- Most likely scenario (60% probability): Price will test R1 at $42.48 and potentially break through to R2 at $43.50
- Target range: $42.50-$43.50
Trading Recommendation SELL when price reaches $43.50 resistance level, as RSI approaching overbought territory suggests potential pullback from this level.
The analysis indicates NEM will likely continue its upward momentum next week but may face resistance around $43.50. The positive gold price outlook provides fundamental support, but high institutional bearish sentiment suggests caution at higher levels.
NEM Similar Chart Price Prediction
The price of NEM is predicted to go up -12.79%, based on the high correlation periods with USNA. The similarity of these two price pattern on the periods is 96.65%.
NEM
USNA
Down: -12.79%Similarity: 96.65%
NEM Revenue Forecast
NEM EPS Forecast
NEM FAQs
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NEM VS S&P500
Newmont is the world's largest gold miner, with copper and other byproducts providing some diversification, representing around 15% of forecast midcycle revenue from 2028.
The Nevada joint venture with Barrick has allowed the companies to extract significant synergies from their assets through the creation of the largest gold producing area in the world.
Gold companies tend not to follow general economic cycles. They can also provide a hedge to inflation risk.
NEM Analyst's Forecast
Tanya Jakusconek
Scotiabank
Hold
Price Target
$52 → $50
Upside
+18.06%
Scotiabank analyst Tanya Jakusconek lowered the firm's price target on Newmont to $50 from $52 and keeps a Sector Perform rating on the shares. Heading into Q4 results, the firm expects operators in the Gold & Precious Minerals sector to err on the conservative side regarding input costs for guidance, and expects FY25 operating and capital forecasts to be more conservative than consensus, the analyst tells investors. In the short term, the firm prefers to be positioned in the streamers versus the operators given the consensus cost outlook.
Baden Moore
CLSA
Sell
Price Target
n/a
Upside
0%
Brian MacArthur
Raymond James
Buy
Price Target
$62 → $59
Upside
+38.95%