$NEM +4.22% Near 52-Week High at $119.35
$Newmont Mining(NEM)$
NEM Climbs +4.22% to $118.94, Testing 52-Week High at $119.35
Latest Close Data
Closed at $118.94 on Jan 21, 2026, up +4.22% (+$4.82). The price is a mere $0.41 away from its 52-week high of $119.35.
Core Market Drivers
The surge is likely driven by sustained high gold prices as a safe-haven asset amid ongoing macroeconomic uncertainty.
Positive sentiment is also supported by the company's strong fundamentals, including a solid ROE of 22.88%.
Technical Analysis
Volume was healthy at 11.15M shares (Volume Ratio 1.30).
The MACD (DIF: 5.38, DEA: 4.69, MACD: 1.39) remains in a bullish expansion phase.
The 6-day RSI at 85.55 signals an overbought condition, suggesting a potential near-term pullback or consolidation.
Key Price Levels
Primary Support: $116.72 (today's low)
Strong Resistance: $119.35 (52-week high)
Immediate Pivot: $118.97 (recent resistance). A decisive break above this level could open the path to new highs.
Valuation Perspective
Trading at a TTM P/E of 18.50 and a Forward P/E of 13.88. The Forward P/E is near its historical average of 13.95, indicating a fair valuation relative to its own history.
Analyst Targets
21 analysts cover NEM with an average price target of $117.11. Sentiment is bullish, with 7 Strong Buy, 14 Buy, and 3 Hold ratings.
Weekly Outlook
Expect consolidation or a slight pullback in the $117-$119.35 range due to overbought RSI. A confirmed breakout above $119.35 could target the $122-$125 zone, while a break below $116.72 may find support near $114.
Risk Disclaimer
This analysis is for informational purposes only and not financial advice. Trading involves risk, including the potential loss of principal. Past performance is not indicative of future results. Conduct your own research before making any investment decisions.
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