Does Newmont's 25% Gain in 3 Months Justify Buying the Stock Now?

Newmont Corporation’s (NEM) shares have rallied 24.8% in the past three months, outperforming the Zacks Mining – Gold industry’s rise of 12.4%. Forecast-topping earnings performance in the second quarter on the back of higher selling prices and production, along with a surge in gold prices, has contributed to the run-up in NEM’s shares.The stock is currently trading at a roughly 6% discount to its 52-week high of $53.88, reached on Aug. 30, 2024. Technical indicators show that NEM has been unremittingly tra ...