Downloading...
Download

Newmontmining

Newmont's Ghana Gold Mine Sale Sparks FrenzyNewmont Corporation (NYSE: NYSE:NEM ) has set the stage for a lucrative deal with the initiation of the sale of its Akyem gold mine in Ghana, attracting significant interest from Chinese mining giants amidst the backdrop of soaring gold prices. Strategic Move Amidst Gold Boom: With gold prices reaching new heights, Newmont's decision to divest its Akyem gold mine in Ghana appears strategically timed to capitalize on the current market dynamics. The sale, aimed at generating a substantial $2 billion in cash, underscores Newmont's commitment to optimizing its asset portfolio and unlocking value for shareholders. Chinese Giants Eyeing Opportunity: Chinese mining behemoths, including Shandong Gold Mining Co. and Zijin Mining Group Co., have emerged as frontrunners in the bidding war for the Akyem asset. Their interest underscores the growing appetite among Chinese companies for overseas mining opportunities, particularly in regions with rich mineral reserves like Ghana. Global Interest Signals Asset's Appeal: Beyond Chinese contenders, other players such as Chifeng Jilong Gold Mining Co. and Australian miner Perseus Mining Ltd. have also expressed interest in the Akyem mine. This widespread interest highlights the attractiveness of the asset and its potential to deliver substantial returns for the prospective buyer. Strategic Divestitures to Strengthen Balance Sheet: The sale of Akyem is part of Newmont's broader strategy to divest non-core assets and streamline its portfolio following its acquisition of Newcrest Mining Ltd. The company aims to offload several other gold mines in North America and Australia, with the goal of reducing its debt load by $1 billion in the short term. Future Growth Prospects: Looking ahead, Newmont ( NYSE:NEM ) remains optimistic about its growth prospects, with expectations of improving gold production to 6.7 million ounces by 2028. The divestiture of non-core assets is expected to not only strengthen the company's financial position but also pave the way for future investments in high-return opportunities. Investment Opportunities Amidst Market Volatility: Despite NYSE:NEM stock experiencing a decline of over 29% in the past year, investors can still find opportunities amidst the volatility in the gold mining sector. Exposure to Newmont can be gained through ETFs such as iShares MSCI Global Gold Miners ETF (NYSEARCA: NASDAQ:RING ) and VanEck Gold Miners ETF (NYSEARCA: AMEX:GDX ), providing diversified exposure to the gold mining industry.
NYSE:NEM
by DEXWireNews
Newmont: Flirty 😉Newmont is flirting quite heavily with our alternative scenario, moving closer and closer to the support at $37.45. By now, it is touching the upper edge of the yellow zone between $42.50 and $23.41, on the verge of slumping deeper. There is a 40% chance that the course might do so, dropping below the support at $37.45 to develop wave alt.(2) in yellow earlier already. However, primarily, we still expect Newmont to turn upwards first to head for the turquoise zone between $67.68 and $80.84. There, the share should place the top of wave B in turquoise before starting a fresh downwards movement, which should then lead into the yellow zone and thus below $37.45. Beneath this mark, Newmont should complete the overarching descent in the form of wave (2) in yellow.
NYSE:NEM
by MarketIntel
Newmont: 2x potential outlier basing @2009 channel+ Cup NeckNewmont gold miner, after more than doubled from a 2016 Cup & Handle formation, came back down to retest the neckline at around 40. As you can see in the chart, it reached the top of the 2009 channel near 85 on April 2022 & went vertically down to retest the channel base near 40, with the usual chopping near the mid channel dotted blue line. Very bullish cases: target levels are 50 (previous strong support), 60 (projected ma200 zone) & 70 (projected channel median line) It has been basing for 7 weeks holding 40 Basing around the 2009 lower channel Retested successfully 2016 Cup & Handle neck@40 Slight Rsi divergence Macd holding above zero Made higher high & higher low About to cross daily dma50 to regain channel WARNING: with GDX & GDXJ gold miners looking very bearish at this point, I MAY BE WRONG! So watch carefully the 40 zone as it is the line in the sand. Not trading advice
NYSE:NEMLong
by xtremerider8
Newmont: Humpty Dumpty 🥚🧱Humpty Dumpty sat on a wall, Humpty Dumpty had a great fall. All the king’s horses and all the king’s men Couldn’t put Humpty together again . Well, Newmont shouldn’t have such a great fall that it can’t be put together again. Tough, just like the egg headed character from the British nursery rhyme, it is sitting on the big yellow wall between $42.50 and $23.41, in which it should drop to finish wave (2) in yellow. Afterwards, Newmont should turn upwards, heading for the resistance at $86.37.
NYSE:NEM
by MarketIntel
Newmont breaking out of the box and going lowerThe Bollinger Bands contracting inside the Keltner channel predicts an explosive move ahead that will last at least 8 days. Combine that with Newmont's Price Action creating a box which looks like it's breaking through. I would not be surprised if there was a retrace to the top of the box later today if action is aggressive, or Monday morning - then it's Sayonara Sucka. I've already detailed all the reasons why in my gold/dxy threads why miners will experience more pain ahead. I'm selling OTM calls and buying ITM puts with the credit here. If it goes up, it's a squash - if it goes down, excellent revenue to average in at a lower price until miners turn around.
NYSE:NEMShort
by EmptyEternity
Newmont Corp. stock analysis: Has NEM bottomed out?Newmont ( NEM ) stock prices have been falling precipitously, halving in value from highs of $86 in mid-April, due to lower gold prices and rising input costs weighing on the company's earnings. On July 25, following the release of the disappointing second-quarter results, with EPS down to 0.46 (-30% lower than expected), the world's largest gold miner fell to a year-to-date low of $44. Since then, however, NEM appears to have formed a very solid support at $44, which has not been broken downwards, indicating that the sellers’ strength may have faded. NEM could have bottomed out here, but it has yet to gain traction, as prices have consolidated in a tight range between $44 and $47 over the past two weeks. The RSI is still in oversold territory (26) but is rising slightly. Instead, the MACD provides a bullish crossover signal as the MACD line crossed from below to above the signal line. If we are on the verge of a new bull trend, the first hurdle to overcome is undoubtedly the psychological level of $50, which served as support prior to July 25th. A breach of this level would also lead to a breakout of the 2022 bearish trendline and encourage a test of $54.04 (the 23.6% Fibonacci retracement level from April 2022 high to July 2022 low). Alternatively, if there is a fresh round of pessimism, the market may retest the $41-41.7 level that served as support in March and April of 2020. Analysis written by Piero Cingari, forex and commodity analyst at Capital.com
NYSE:NEM
by Capitalcom
Newmont Corporation (NEM) Bearish DivergenceA Reaction low formed after testing the Upper Bollinger Band and the (Resistance area of 19 September 2011) ,We then seen a Test of Support (Middle of Bollinger Band) and (Previous Local Resistance), found support there and moved up to test the Upper Bollinger Band, exceeding the previous high but Rejecting the test of the upper Bollinger Band (Also being The High from 07 November 2011) causing a reaction low to find and test a (New Low)
NYSE:NEM
by monkreet