RE:Three years trend Well ecolo101, CIBC just raised their PT on NEM from $37.50 to $44.00 US and they are generally pretty conservative with their PTs so I'd say that's a positive.
Morningstar just changed their rating on NGT from a Buy to a Hold with a $66 CAD PT so still a long ways from today's share price.
The recent drop in gold shares price is not unique to Newmont and all or at least most gold shares have headed lower these past few days. If only Newmont was dropping and other staying flat or rising I'd be concerned, so I see this as nothing more than a much anticipated and needed correction as a reset before Newmont can go higher. The catalyst for the next run up for NEM will be their Q1 earnings results and given the significant rise in the price of gold lately, and analyst projected incremental increase in quarter over quarter earnings this year I'd say the odds of Newmont still going significantly higher from here is pretty good. Whether this will occur in the coming days or not until later this fall after they've redeemed themselves in the minds of the fund managers of the larger Institutional funds is yet to be seen. The funds got whacked pretty good with Newmont these past few years and once bitten twice shy will be their strategy until proven otherwise.
Right now, I think there's a lot of institutional money sitting on the sidelines just waiting to see Newmont's Q1 results before jumping back on board. I had previously posted that NEM would likely retest its 200 DMA and well it came pretty close already this morning. The shorters are just doing what the shorters do and when they're done the upward share price movement will continue. The next leg up (based on the Technicals) for Newmont once it resumes its upward trend will be about $60 CAD. Another sudden flair up in the middle east and this stock will be back at $57 in a blink.
My opinion only, please DYODD
HB77