Surging Earnings Estimates Signal Upside for Newmont (NEM) Stock

Core Viewpoint - Newmont Corporation (NEM) shows potential as a strong investment opportunity due to significant upward revisions in earnings estimates, indicating improving earnings outlook and potential stock price appreciation [1][2]. Current-Quarter Estimate Revisions - For the current quarter, Newmont is projected to earn $0.78 per share, reflecting a substantial increase of +116.67% compared to the same quarter last year [3]. - The Zacks Consensus Estimate for Newmont has risen by 10.39% over the past 30 days, with two estimates increasing and no negative revisions [3]. Current-Year Estimate Revisions - For the full year, Newmont is expected to earn $3 per share, which is an increase of +86.34% from the previous year [4]. - The consensus estimate for the current year has improved by 6.5%, with four estimates moving higher and no negative revisions [4]. Favorable Zacks Rank - Newmont currently holds a Zacks Rank 2 (Buy), attributed to positive estimate revisions, which historically correlate with strong stock performance [5]. - Stocks rated Zacks Rank 1 (Strong Buy) and 2 (Buy) have shown significant outperformance compared to the S&P 500 [5]. Bottom Line - The stock has gained 6% over the past four weeks, driven by solid estimate revisions, suggesting that Newmont may be a worthwhile addition to investment portfolios [6].