Newmont Mining Earnings Preview: Key Levels to Watch Ahead of Quarterly Results

Investors and traders are closely watching Newmont Mining Corporation (NYSE: NEM) ahead of its earnings report scheduled for tomorrow. Market analysts expect the company to post earnings per share (EPS) of $1.06, representing a 47% year-on-year increase for the quarter.

At present, Newmont shares are trading around $61.78, reflecting a 31% gain over the past 12 months. However, there's a noticeable gap between share price growth and EPS expansion — with the share price lagging behind earnings growth by approximately 16%. This disparity could present an opportunity for a catch-up rally, particularly if earnings come in as strong as expected.

Market Outlook and Precious Metals Demand

While there has been a slight dip in industrial demand for metals, this may be offset by a rise in precious metal prices, particularly gold — a key driver for Newmont. If commodity prices continue to firm up, short-term upside potential for the stock could materialise.

Technical Analysis: Key Support and Resistance Levels

From a technical standpoint, the weekly chart suggests continued bullish momentum:

• Support remains strong along the white rising trendline, reinforcing the stock's uptrend.

• The price has now broken above the key resistance level of $58.71, a bullish signal that may open the door for a move higher.

• The next major resistance zone is located between $68 and $72, implying a potential 10% to 18% upside from current levels.

• On the downside, a break below $52 would be considered a bearish development and could signal more downside risk.

Momentum Indicators

The MACD (Moving Average Convergence Divergence) indicator is currently positive and rising, signalling continued bullish momentum. However, it is nearing historically overbought levels, which traders should monitor closely.

---

Bottom Line: With strong EPS growth, positive momentum, and rising commodity prices, Newmont Mining shares could be poised for further gains — but keep an eye on resistance levels and overbought indicators. Tomorrow’s earnings release will be a key catalyst for price action in the short term.