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.
Newmont 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...
NEM has just made a double bottom and is heading up. You need to get into this quickly if you want to make some money. NEM will likely go to $65 where there will be some resistance if it goes past that look for the price to go to $68.
Newmont 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,...