NEM trade ideas
NEM : RESET / POSITION TRADE / HEDGENewmont Mining just came off a record quarter in Q3 with free cash flow of ~$1.3 billion, and increased its dividend by 60% to $1.60 per share annually.
Despite these bullish developments, the stock has slumped with the rest of the sector, down more than 20% from its August highs.
This correction has left the stock trading below 13x FY2021 annual EPS estimates, with a dividend that's 70% higher than that of the S&P 500.
Therefore, if we see any further weakness below $57.25, I would view this as a low-risk buying opportunity for long-term investors looking for steady free cash flow and yield.
seekingalpha.com
NEMNewmont has a shitload of silver from the goldcorp takeover... is why i own it. It has recently taken out the prior high and retest (not the all time high) that one is coming next... once Newmont takes out its all time high (81.92) , it's to the moon alice... to the moon !
NEM holding solid for longNEM has increased guidance and has a bull flag forming. FWD P/E lower than current and 10 points lower than industry average FWD P/E.
Looking for entry below 74 and TP of 79 to hold with stop loss at 76 for 25% of position.
$NEM 30 year highs - 30-50% more upside$NEM has closed at its highest price since 1987. I have selected 2 fibonacci extensions and the measured move of the bull flag. The red extensions from the first impulse move post-IPO have a history have a long history of marking months long consolidations and decade long tops. For this reason I believe the next fibonacci level $114 is now the most reasonable 'long term' price target.
What does one of the largest precious metals miners tell you?This is a quarterly breakout - find me a chart that looks like this....
My view on silver long term:
Junior miners about to breakout:
Silver long is my largest holding
Newmont CorporationChart pattern: Bull flag
Entry: 65.78$ (this would end the downtrend which is active since the beginning of August 2020)
Stop: 54.18$
Target: 93.354
Stopmanagement: ATR Stops weekly chart default settings
Risk:Reward-Ratio: > 2.3:1
Description: Since August 2020 the chart is forming a bull flag with a nice corrective pattern (which retraced under the 38 Fibonacci retracement). Target is the 1:1 Fibonacci extension of the former impusliv move. Additionally, the MACD is also confirming the change in trend.
Ordersize: If you have a 10000K to trade and you only want to risk 1% of your volume, you can enter this trade with 570$.
NEM - Gold and Precious Metals Stocks - Large Cap Leadership...?NEM is close to breaking through a bullish flag. We need a couple more days to confirm. Large caps will lead the smaller caps so all eyes on NEM and ABX. GDXJ is in a bullish flag as well - but has more work to do, hints will come from NEM/ABX.
All adding to the positive technicals for XAU, XAG and the PM stocks. Cautiously bullish at this stage.
Buy $NEM - NRPicks 28 FebNewmont is the world's largest gold producer. In 2020, the company produced 5.9 million attributable ounces of gold and more than 1 million attributable gold equivalent ounces from by-product sales. In the long term, the company expects to produce 6.5 to 7 million ounces of annual gold production while reducing all-in sustaining costs to $800 to $900 per ounce.
Newmont is a company that appears to have been unaffected by the pandemic, as we see no significant damage to sales. The current year's results have been better than last year, likewise, we can see that its debt level is in line with its competitors.
- Value
-2.9% estimated net earnings growth for the next 3 years.
- ROE 11.0% VS 13% industry average
- P/B 2x VS 2.3x industry.
Technicals:
- Price level below SMA 250-200-150-100
- Williams R% at -94% levels
- RSI (32) Oversold
- -8% average downside during the month
A 17% correction was presented from January 8 to February 26, which stopped at $54.30 support. This pullback was mainly due to the fortune that the dollar has been gaining and the increase in 10-year bond yields. Ultimately, the buy decision is driven by the strength of the company and that the technical indicators are favorable.
Newmont's Quarterly Log ChartIn a bullish transition zone, right below 2011 quarterly defined highs.
Convincing quarterly close above 64$ opens the floodgates.
255$ target.
