Newmont Stock Loses 27% in 3 Months: Should You Buy Now?

Newmont Corporation’s (NEM) shares have lost 26.7% in the past three months, underperforming the Zacks Mining – Gold industry’s 12.6% decline. The bearishness partly reflects its weaker-than-expected earnings performance in the third quarter and concerns over higher production costs. While NEM gained from an uptick in average realized gold prices and sales volumes, higher unit costs weighed on its third-quarter performance.Technical indicators show that NEM has been trading below the 50-day simple moving av ...