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blue-chip

One NYSE – Listed Mining Stock at Resistance Level: Newmont Corporation

Apr 10, 2024 | Team Kalkine
One NYSE – Listed Mining Stock at Resistance Level: Newmont Corporation

NEM:NYSE
Investment Type
Large-cap
Risk Level
Action
Rec. Price (US$)

Newmont Corporation

Company Overview: Newmont Corporation (NYSE: NEM) is a gold company and a producer of copper, silver, zinc, and lead. The Company’s portfolio of assets and prospects is anchored in mining jurisdictions in North America, South America, Australia, and Africa. The Company's segments are each of its 12 mining operations and its 38.5% interest in Nevada Gold Mines (NGM).

As per our previous US Dividend Income report published on ‘NEM’ on 13th March 2024, Kalkine provided a ‘Buy’ stance on the stock at USD 34.41 based on “expected valuation upside, decent fundamentals, dividend yield of 2.95%, improved outlook, and current trading levels and the stock price has now moved by ~15.27% since then and the price has crossed resistance 1 and closing on resistance 2.

Noted below are the details of support and resistance levels provided in our previous report:

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