NEM stock: buy or sell
Updated on:
Jan 18th, 2021
2
NEM stock brief
- Newmont Goldcorp closed last Friday at $61.86 after falling a -2.32%.
- Looking at the chart, price is drawing an scaled downtrend since last November with lower tops and lower bottoms. shares price lost a -9.02% since the downtrend started.
- Raymond James posted a bullish rating for Newmont Goldcorp last Friday, with a target of $86.00
- Newmont Corporation engages in the production and exploration of gold, copper, silver, zinc, and lead.
Should I buy Newmont Goldcorp stock?
Even if you are a experienced or a novel trader, best trading results come from using an investing strategy that never leaves to random or subjective opinions when is the best moment to buy or sell stocks. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best
Is $NEM stock a buy?
In the current situation of Newmont Goldcorp there is not any eligible buy setup. This doesn't mean $NEM will slide in coming sessions, or it will not rise higher. Simply, it doesn't match our recommended trading systems
Should I sell Newmont Goldcorp stock?
Knowing when to sell a stock is even harder than knowing when to buy it. In the same way as when we have to buy shares, determining when is appropiate time to sell is not a whimsy decision, and we must adhere our own trading style. When selling, as well as buying, our strategies are very easy to use but are only valid for selling shares you already own, not for shorting $NEM stock
A guiding principle is that you must never mantain an open trade that produces losses greater than those expected upon the buy. The timing to sell shares must always be dictated by the stop-loss (automatic or manual)
Is it time to sell Newmont Goldcorp stock?
Currently, Newmont Goldcorp stock doesn't match any of our preferred sell setups, so if you own Newmont Goldcorp stock and your operation is in profit probably is not time to sell now
Newmont Goldcorp ratings
In the last month, 2 brokerage ratings were published for Newmont Goldcorp. General sentiment is bullish, with 2 out of 2 posting positive forecasts
| Brokerage firm | Rating |
|---|---|
| Jan 11th, 2021 | |
| National Bank Financial | Buy |
| Jan 15th, 2021 | |
| Raymond James | Buy |
Newmont Goldcorp stock analysis
From a technical standpoint, Newmont Goldcorp continues trending lower since last November, and has accumulated a selloff of -9.02%. The stock plotted 2 consecutive lower tops.
SMAs overview
Supports and resistances
The current resistance levels are:
The current supports are:
Bollinger bands
Since the price surpassed the upper band on January 7, the price has corrected downwards by 5.96%
Relative strength index
The has been between the levels of 70 and 30 for many weeks, and therefore, without this indicator really being of any help to us in making any decisions.
Newmont Goldcorp stock price history
Newmont Goldcorp started trading priced at an adjusted price1 of $0.00 on Mar 1980. Since then, NEM stock surged by -, with an average of 0.00% per year. If you had invested thousand dollars in Newmont Goldcorp stock at that time, it would be valued $inf today.
1: Adjusted price after possible price splits or reverse-splits
Price target for Newmont Goldcorp stock
Nobody can predict how much a share will be priced in the future. However, many stock price forecasts are published every day by banks, financial institutions and independent analysts.
The following table shows the price target posted by financial institutions in the last month. If you are a small investor you don't have to trade based on these price targets.
There is just one price target available for Newmont Goldcorp that predicts a price of $86.00.
| Brokerage firm | Price target |
|---|---|
| Jan 11th, 2021 | |
| National Bank Financial | Not available |
| Jan 15th, 2021 | |
| Raymond James | $90.00 → $86.00 |
Earnings and financials
Newmont Corporation ($NEM) published earnings of $0.86 per share last October, meeting the Market consensus estimate of $0.84 per share. Company's sales resulted of $3.2 billion in contrast to $3.3 billion estimated by analysts.
Same quarter one year ago, reported EPS was $0.36, so recently posted EPS is a gain of 138.89%. Looking at sales, figures skyrocketed a 16.84% compared to $27.1B same quarter a year ago.NEM ($NEM) is posting financial report mid next February. Estimated for this quarter is $0.96, compared to $0.86 that was reported for Q3.
Newmont Goldcorp performance
| Company | 1m | 3m | 6m |
|---|---|---|---|
| Newmont Goldcorp ($NEM) | 4.00% | -1.40% | -1.50% |
Important:
The viewpoints given in this article are personal and not recommendations for you to buy or sell shares. The author of this text does not have any knowledge of the particular positions of the reader, his or her own financial statements or what is in his or her best interest at any given time. All users should speak with their financial advisor before buying or selling any securities Comments are published for education purposes onlyNEM summary
| Friday, January 15th, 2021 | |
|---|---|
| Open | $62.63 |
| Close | $61.86 |
| Day range | $61.78 - $63.43 |
| Previous close | $63.33 |
| Session gain | -2.32% |
| Average true range | $2.17 |
| 50d mov avg | $61.48 |
| 100d mov avg | $62.35 |
| 200d mov avg | $61.60 |
| Earnings date | February 18th, 2021 |