Newmont Corp (NYSE:NEM) shares are trading lower on Thursday. Traders seem to be taking cautious stance ahead of the company's first‑quarter earnings release after the bell.
- Newmont stock is under selling pressure. Why is NEM stock retreating?
Expectations Build Ahead Of Newmont's Q1 Report
Wall Street expects earnings of $2.19 per share on $6.43 billion in revenue, but despite this, the setup heading into the print is seemingly being shaped more by last quarter's exceptionally strong performance and the high bar it created, than by the headline numbers expected today.
In its fourth‑quarter update, Newmont described 2025 as "a milestone year", highlighting record free cash flow, aggressive debt reduction and billions returned to shareholders. With the stock already pricing in a strong operational backdrop, traders are trimming exposure ahead of tonight's results.
Q4 Strength Set the Stage For A High‑Stakes Q1
Newmont's fourth‑quarter report was one of its strongest in years. Management emphasized that the company delivered $7.3 billion in free cash flow, generated $3.6 billion from portfolio optimization and returned $3.4 billion to shareholders. The company also reduced debt by $3.4 billion, ending the year in a net cash position of $2.1 billion.
Operationally, Newmont met its full‑year production and cost guidance, producing 5.9 million gold ounces, 28 million ounces of silver and 135 thousand tonnes of copper. The company also declared commercial production at Ahafo North and approved the Lihir mine life extension, unlocking access to more than 5 million future gold ounces.
Strategic Momentum Is Shaping The Setup
Newmont's long‑term positioning remains strong. The company ended 2025 with 118.2 million ounces of gold reserves, significant copper and silver exposure, and a refreshed capital allocation framework designed to support predictable dividend growth. Management also highlighted a focus on margin expansion, robust free cash flow and disciplined investment across its world‑class portfolio.
But with 2026 guidance calling for 5.3 million gold ounces and higher AISC levels, traders are watching closely to see whether cost pressures or production timing could soften the near‑term outlook.
Newmont Technical Analysis
Newmont is sitting in the upper half of its 52-week range ($48.27 to $134.88), which keeps the longer-term uptrend in view even as momentum cools from earlier highs. The stock is trading 2.1% below its 20-day simple moving average (SMA) and 1.0% below its 100-day SMA, a setup that leans toward short-term hesitation rather than a clean trend higher.
The moving average convergence divergence (MACD), a trend/momentum measure, has the MACD line below the signal line and the histogram is negative, which points to fading upside momentum versus the prior push. That lines up with the stock's current posture under the 20-day and 50-day averages, where rallies can have a harder time sticking.
Over the last 12 months, the stock is up 106.53%, which shows the bigger-picture trend has been strong despite the current consolidation. With a swing high and swing low both set in March, traders often treat the post-March range as the near-term "decision zone" for the next directional move.
- Key Resistance: $122.00 — a level where upside attempts have tended to stall.
- Key Support: $94.50 — an area where buyers have previously shown up.
NEM Shares Are Dipping
NEM Price Action: Newmont shares were down 2.63% at $108.91 at the time of publication on Thursday, according to Benzinga Pro.
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