NEWMONT CORPORATION

NEM
Delayed Quote. Delayed  - 01/15 04:10:00 pm
61.86USD -2.32%

Newmont Corporation : The trend should continue

David Meurisse
Contributor / Partner

Strategy published on : 07/29/2020 | 12:13

long trade
Stop-loss triggered

Entry price : 67.625$
Target : 79.7$
Stop-loss : 61.55$
Potential : 17.86%

A strong break-out to the upside has recently been seen in Newmont Corporation. The current technical chart pattern could allow for a continuation of the upward dynamic.
Investors have an opportunity to buy the stock and target the $ 79.7.

Summary

● The company has strong fundamentals. More than 70% of listed companies have a lower mix of growth, profitability, debt and visibility criteria.


Strengths

● Growth progress expectations are rather promising. Indeed, sales are expected to rise sharply in the coming years.

● Margins returned by the company are among the highest on the stock exchange list. Its core activity clears big profits.

● Thanks to a sound financial situation, the firm has significant leeway for investment.

● Over the last seven days, analysts have been revising upwards their EPS estimates for the company.

● For the last few months, EPS revisions have remained quite promising. Analysts now anticipate higher profitability levels than before.

● For the past year, analysts covering the stock have been revising their EPS expectations upwards in a significant manner.

● Analysts covering this company mostly recommend stock overweighting or purchase.

● The tendency within the weekly time frame is positive above the technical support level at 49.44 USD


Weaknesses

● The stock is currently in contact with a medium-term resistance that must be gotten rid of so as to resume the upward trend.

● Sales estimates for the next fiscal years vary from one analyst to another. This clearly highlights a lack of visibility into the company's future activity.

● The company's earnings releases usually do not meet expectations.

● The company's enterprise value to sales, at 4.8 times its current sales, is high.

● The company is not the most generous with respect to shareholders' compensation.

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