NEM Price Prediction Next Week
Analysis and Insights
To predict the stock price of Newmont Corporation (NEM) for the next trading week, we analyze both fundamental and technical factors.
Fundamental Analysis:
Newmont Corporation (NEM) has received a high rating of 73% using the Acquirer's Multiple Investor model, indicating it is considered an inexpensive stock with potential as a takeover target in the Gold & Silver industry. This suggests strong value metrics and potential upside.
Technical Analysis:
The stock is currently trading at $43.96 with a neutral RSI of 50.02, indicating a balanced position between buyers and sellers. The MACD is slightly bullish, suggesting potential upward momentum.
Options Activity:
Significant options trading volume, particularly for the $50 strike call option expiring June 20, 2025, indicates bullish sentiment.
Fibonacci Levels:
Fibonacci resistance levels are at $44.92, $45.92, and $47.53, while support levels are at $41.68, $40.68, and $39.06. The pivot point is at $43.30.
Conclusion:
Based on the analysis, NEM is expected to rise to $47 next week. Buy.
NEM Similar Chart Price Prediction
The price of NEM is predicted to go up 5.59%, based on the high correlation periods with RBA. The similarity of these two price pattern on the periods is 95.42%.
NEM
RBA
Up: 5.59%Similarity: 95.42%
NEM Revenue Forecast
NEM EPS Forecast
NEM FAQs
What is NEM revenue forecast for next quarter？
What is NEM eps forecast for next quarter？
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
2025-01-21
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
2024-11-29
Price Target
n/a
Downside
0%
Brian MacArthur
Raymond James
Buy
2024-11-25
Price Target
$62 → $59
Upside
+38.95%
