Newmont Corporation (NEM) Just Flashed Golden Cross Signal: Do You Buy?

Core Viewpoint - Newmont Corporation (NEM) is showing potential as a bullish investment opportunity due to a recent technical indicator known as a "golden cross" and positive earnings outlook [1][4]. Technical Analysis - NEM's 50-day simple moving average has crossed above its 200-day simple moving average, indicating a "golden cross" which often signifies a potential bullish breakout [1][2]. - A golden cross typically follows a downtrend, where the stock's shorter moving average crosses above the longer moving average, leading to a trend reversal and subsequent price increase [2][3]. Performance Metrics - Over the past four weeks, NEM has experienced a price increase of 16.6% [4]. - The stock currently holds a 2 (Buy) rating on the Zacks Rank, suggesting it may be poised for further breakout [4]. Earnings Outlook - The earnings outlook for NEM is positive, with no earnings estimates decreasing in the past two months, while there have been four upward revisions [4]. - The Zacks Consensus Estimate for NEM has also increased, reinforcing the bullish sentiment around the stock [4][5].