Golden Cross Glitter: Newmont Q1 Earnings Loom As Technicals Shine

Newmont Corp NEM, the world's largest gold miner, is preparing to report its first-quarter earnings amid a technically bullish setup on Thursday. Wall Street expects $0.55 in EPS and $3.3 billion in revenues as the company reports after market hours.

The stock is up 39.41% over the past year, and 37.28% year to date.

Despite recent weakness in gold prices following President Donald Trump's tariff comments and reaffirmation of support for Fed Chair Jerome Powell, Newmont stock has remained resilient. With shares up over 12% in the past month and nearly 40% over the past year, investors are eyeing both the earnings print and the momentum under the hood.

Read Also: Gold Miners Surge 50% Year To Date As Record Bullion Prices Drive Optimism Ahead Of Earnings

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NEM Stock Technicals: Golden Cross Signals Strength, But RSI Hints At Caution

Chart created using Benzinga Pro

Newmont recently triggered a Golden Cross, where the 50-day simple moving average of $47.39 overtook the 200-day SMA of $46.87 – a bullish indicator that often precedes longer-term upside. NEM stock, at $52.24, is well above both those key averages, as well as the 20-day ($50.43) SMAs, signaling sustained upward momentum. This convergence of shorter- and longer-term averages implies growing investor conviction.

Yet, the technical setup isn’t without nuance. The Moving Average Convergence Divergence (MACD) sits at 2.27, confirming bullish momentum, but some selling pressure is evident, which could trigger near-term volatility. The Relative Strength Index (RSI) reads 56.95 – close to overbought territory – suggesting that while momentum remains intact, traders should stay alert for a potential cool-off after earnings.

For now, the charts favor the bulls, but the balance could shift quickly on first quarter results.

Newmont Analysts See 11% Upside

Consensus Ratings & Targets: Wall Street analysts currently rate Newmont stock a Buy, with a consensus price target of $53.40. The latest notes from UBS, Raymond James, and RBC Capital imply an average price target of $58.33 – suggesting a potential upside of nearly 11% from current levels.

NEM Price Action: NEM stock was trading at $52.24 at the time of publication.

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