Newmont Corporation NEM

RE:RE:New Morningstar NEM PT $47.91 US / $64.86 CAD

[HoneyBadger77]

An excerpt from my post yesterday:

My quess is we'll get a late day run to about $50.61 CAD (we hit $50.64) and many here will sell and grab profit. (And how many did?) Then tomorrow they will run it up to it's 200 DMA around $51.50 and the sellers will say damn I should of held.  (We broke through the 200 DMA of $51.40 today as predicted (and made it to $51.68) but closed lower when the gold price dropped about $15 at the close only to recover $10 back right after the close).
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NYSE:NEM Forum Post | HoneyBadger77-35968485 | RE:What impact has inflation on production costs | Newmont Corporation (stockhouse.com)

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I'm a bit disappointed we didn't close at or above the 200 DMA today but that just means we get another shot at it tomorrow and once we get a solid close above the 200 DMA the serious climb higher towards Morningstars latest price target of $64.86 CAD can begin.  Of note, this stock hasn't closed above its 200 DMA since May 2023 (nearly a year) and considering most other gold stocks are now above their 200 DMA this one is due.  Are you Ready?

The gold price is holdling above $2300 (at $2310 as I write) and Newmont is looking at $800 to $900 US margins on their AISC guidance of about $1450 US.  So if they produce 8 million ounces in 2025 and gold can stay at this price or higher that's about $7.2 Billion profit at these margins!

An asset sale announcement on either of their identified non-core divestiture properties about now would add some icing to this cake and should easily take the share price to at least $54 or higher in a blink.  NEM's future is looking bright...maybe it's all that gold that's glaring.  LOL 

HB77