Newmont stock price forecast: $98.58 resistance in focus as NEM gains 1.86%

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Newmont jumps 1.86% to $95.79 today

Highlights

Newmont secured key regulatory approvals for Red Chris Block Cave in British Columbia, ensuring mine life extension into the mid-2040s.
The company reaffirmed its capital returns policy with a declared quarterly dividend of $0.26 per share, signaling cash flow resilience.
Technical outlook remains bearish as shares trade below major averages, with a 70% probability of moving toward $91.76–$99.82 over the next days.

Long-term project approval and dividend bolster investor interest

Newmont received major regulatory approvals for its Red Chris Block Cave project in British Columbia, as reported by Finance Yahoo, enabling a shift from open pit to block caving and securing extended mine life into the mid-2040s. This development enhances the company's long-term production visibility and operational stability, factors that can attract buying interest. Additionally, Newmont's payment of a quarterly dividend of $0.26 per share on June 22 highlights continued cash returns to investors and underscores cash flow resilience.

Buyer activity emerges amid mixed momentum and resistance tests

From a technical standpoint, the stock closed below the MA-20 ($96.78), MA-50 ($102.4), and MA-200 ($102.82) levels, with the Ichimoku Kijun at $98.58 acting as immediate resistance. Relative Strength Index (RSI) sits at 38.52, reflecting continued weakness, while the Moving Average Convergence Divergence (MACD) signals a strong sell and the Average Directional Index (ADX) shows a sell bias. Stochastic RSI presents an overbought condition, creating a divergence against other momentum readings. Commodity Channel Index (CCI) is neutral, and Bull/Bear Power (BBP) is positive, indicating intraday buyer pressure. These mixed readings, alongside price closing near the session high, reveal a blend of active buyers and overall weak momentum.

Sideways trading expected as breakout risk shapes short-term outlook

Over the next two to three trading days, the expected volatility band remains between $91.76 and $99.82. The probability of upward movement is estimated at 30%, while the likelihood of a further pullback stands at 70%. The baseline outlook anticipates price consolidation within this sideways range. Should the stock break above $98.58, further gains could be triggered, while a drop below $91.76 would likely lead to additional downside pressure.

Viktoras Karapetjanc, analyst at Traders Union, sees Newmont’s regulatory win in British Columbia as a strong boost for its long-term fundamentals. He believes continued dividend payments show financial discipline and appeal to income-focused investors. However, technical momentum is weak and short-term risks remain. The analyst stays constructive, noting that a close above $98.58 could trigger a new leg higher. "The combination of extended mine life and reliable cash returns supports Newmont’s long-term story, but I want to see follow-through above resistance for confirmation of renewed upside."

Source of Data: NEM Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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