NEM Should I Buy
-
$
0.000
0.000(0.000%)
At close0.000(0.000%)Aft-market
ET
Newmont is not a strong buy right now for a Beginner focused on long-term investing, even with $50,000-$100,000 available. The stock has supportive analyst targets and hedge fund accumulation, but the current technical setup is not favorable enough for an immediate purchase: momentum is weak, moving averages are bearish, and there is no Intellectia proprietary buy signal today. If the investor is impatient and unwilling to wait for a better entry, I would still not call this a buy today; hold off until price action improves or a clearer breakout develops.
Current price is 97.35, slightly above the previous close of 97.04, but the broader technical picture remains mixed to bearish. MACD histogram is -0.248 and still below zero, indicating negative momentum even though it is contracting. RSI_6 is 50.076, which is neutral and does not show an oversold setup. Moving averages are bearish, with SMA_200 > SMA_20 > SMA_5, suggesting the trend is not yet fully repaired. Key levels show pivot at 98.677, resistance at 104.747 and 108.497, with support at 92.607 and 88.857. The stock trend model also points to limited upside in the near term, with a possible -1.47% move over the next week and only a 0.4% gain over the next month.
Hedge funds have been buying aggressively, with buying up 364.37% over the last quarter. Analyst sentiment is still mostly constructive, with several Buy/Outperform ratings and price targets in the $120-$175 range. Recent commentary highlights strong Q1 results, record free cash flow, and support from ongoing share buybacks. Upcoming Q2 2026 results on July 23 and the conference call on July 24 could provide an event-driven catalyst.
Insiders have been selling heavily, with selling up 506.06% over the last month. One major downgrade came from National Bank, which cut the stock to Sector Perform due to rising costs, higher diesel prices, a new tax framework in Ghana, and operational disruptions at Cadia and other sites. Technical momentum is weak, and the stock is not currently showing a strong breakout pattern.
No latest quarter financial statement data was available because the financial snapshot returned an error. The only clear financial read-through is from analyst commentary: Q1 results were described as strong, with record free cash flow and increased share buyback activity, implying solid recent operating performance. The latest quarter season referenced in the data is Q1 2026.
Analyst sentiment is mixed but still mildly positive overall. Recent price targets were generally raised or kept high by UBS, TD Cowen, BMO, and CIBC, while National Bank downgraded the stock to Sector Perform due to cost pressures and operational issues. The pros view is that Newmont has strong Q1 execution, record cash flow, and leverage to supportive gold fundamentals. The cons view is rising operating costs, regional tax pressure, and mine disruptions, which are enough to cap conviction at current levels.
