(NEM) Newmont Goldcorp - Ratings and Ratios

Newmont Corporation is a leading gold producer with a diversified portfolio of assets across the globe, including the Americas, Australia, and Africa. The companys extensive operations span multiple countries, providing a robust foundation for long-term growth. Beyond gold, Newmont also explores and produces other valuable metals, further enhancing its revenue streams.

With a rich history dating back to 1916, Newmont has established itself as a seasoned player in the mining industry, headquartered in Denver, Colorado. The companys global presence is marked by its operations and assets in numerous countries, including the United States, Canada, Mexico, and Ghana, among others. For more information, you can visit their official website at https://www.newmont.com.

Analyzing the current market data, NEMs stock price is hovering around $52.72, with significant support levels at $52.4, $47.9, and $45.0. Given the current SMA20 at $51.92 and SMA50 at $51.02, the stock is showing a positive trend. The 52-week high and low are $57.71 and $36.61, respectively, indicating a considerable range. With an ATR of 1.54, representing a 2.93% volatility, traders can anticipate potential price movements.

From a fundamental perspective, Newmonts market capitalization stands at approximately $58.7 billion, with a P/E ratio of 11.95 and a forward P/E of 8.38. The companys return on equity is 16.86%, indicating a strong ability to generate profits for its shareholders. Combining these fundamental insights with the technical data, a forecast can be made. Given the current trends and the fact that the stock is trading above its SMA20 and SMA50, with support levels nearby, its plausible that NEM could continue its upward trajectory, potentially reaching the resistance level at $55.4. However, a break below the support at $52.4 could signal a downturn, with the next significant support at $47.9. Therefore, a cautious bullish outlook is warranted, with a potential target of $55.4 in the short term, contingent on maintaining the current support levels and overall market conditions.