Not a good buy right now for an impatient entry: price is in a sharp short-term downswing and has slipped below the first key support (S1 111.59), increasing near-term downside risk toward S2 (~105.50).
Despite strong medium-term fundamentals/tailwinds (hedge fund buying, strong prior-quarter growth, and a wave of higher Wall St targets), the current tape is risk-off and momentum is still negative.
Best call right now: HOLD / avoid fresh buying until price stabilizes back above ~111.6 or shows a clear reversal off ~105.5 support.
Technical Analysis
Trend/Momentum: Bearish short-term. MACD histogram is negative (-1.944) and expanding lower, signaling strengthening downside momentum.
RSI: RSI(6) ~31, near oversold territory—this supports the case for a short-term bounce attempt, but it is not a reversal confirmation by itself.
Moving averages: Converging MAs suggest a transition phase, but with current price action breaking support, the bias remains downward near-term.
Key levels: Pivot 121.46 is far overhead (bulls need to reclaim it to restore trend). Support levels are S1 111.59 (already broken) and S2 105.50 (next major downside magnet). Immediate resistance likely around 111.6–121.5.
Pattern-based forward view (similar candlesticks): model implies mild edge to gains over 1W–1M (+2.62% / +4.01%), but that conflicts with the currently weakening momentum—suggesting any upside would likely be choppy and bounce-driven, not trend-driven.
Positioning/Sentiment: Open interest put/call ratio at 0.75 leans bullish (more call OI than put OI), but today’s volume put/call at 1.09 is slightly bearish (more puts traded today), consistent with the selloff.
Volatility: IV is extremely elevated (30D IV ~60.7; IV percentile ~97.6; IV rank ~93.7), indicating the options market is pricing unusually large moves—often seen into catalysts (earnings on 2026-02-19) or heightened macro uncertainty.
Activity context: Today’s option volume is below the 30D average (~87.8% of avg), so while sentiment is mixed, it’s not a peak-panic volume capitulation signal yet.
Technical Summary
Sell
3
Buy
9
Positive Catalysts
can reset expectations and drive a re-rating if results/guide surprise positively.
Neutral/Negative Catalysts
Price action is currently decisively risk-off: -6.51% regular session and additional pre-market weakness (-2.63%), implying sellers still control the tape.
Macro/commodity pressure showed up in news flow: shares fell alongside declining gold and silver prices (commodity beta risk remains key).
Operational headline risk: recent note that Newmont production decreased by ~5% (adds execution/volume concerns into earnings).
Very high implied volatility suggests the market expects big swings; for a buy “right now,” that usually means poor near-term risk/reward unless trend flips up quickly.
Gross margin: 53.04%, +46.80% YoY (material margin expansion, supportive of cash generation and capital return capacity).
Growth
Profitability
Efficiency
Analyst Ratings and Price Target Trends
Clear recent trend: multiple firms have raised price targets sharply in Jan–Feb 2026 while reiterating bullish stances (Buy/Outperform), reflecting a more constructive outlook for gold/precious metals pricing.
Notable upgrades/raises: CIBC to $177 (Outperformer), UBS to $160 (Buy), Scotiabank to $152 (Outperform), BofA to $129 (Buy).
Main bearish counterpoint: BNP Paribas Exane downgraded to Neutral with a $97 target (preference shift away from gold).
Wall Street “pros vs cons” snapshot: Pros—leveraged exposure to higher gold assumptions, improving profitability, and apparent institutional buying. Cons—near-term commodity price sensitivity, recent production softness, and currently negative technical momentum.
Wall Street analysts forecast NEM stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NEM is 110.85 USD with a low forecast of 89 USD and a high forecast of 125 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
14 Analyst Rating
Wall Street analysts forecast NEM stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NEM is 110.85 USD with a low forecast of 89 USD and a high forecast of 125 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Buy
3 Hold
0 Sell
Strong Buy
Current: 108.530
Low
89
Averages
110.85
High
125
Current: 108.530
Low
89
Averages
110.85
High
125
CIBC
Outperformer
maintain
$112 -> $177
AI Analysis
2026-02-04
New
Reason
CIBC
Price Target
$112 -> $177
AI Analysis
2026-02-04
New
maintain
Outperformer
Reason
CIBC raised the firm's price target on Newmont to $177 from $112 and keeps an Outperformer rating on the shares. CIBC increased targets across the precious metals group after upped its gold price forecasts to $6,000 per ounce in 2026 and $6,500 in 2027. It also upped copper price assumptions. The same demand drivers from 2025 will remain in place in 2026 but there is heightened geopolitical uncertainty, the analyst tells investors in a research note.
UBS
Buy
upgrade
$125 -> $160
2026-01-30
Reason
UBS
Price Target
$125 -> $160
2026-01-30
upgrade
Buy
Reason
UBS raised the firm's price target on Newmont to $160 from $125 and keeps a Buy rating on the shares.
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