Newmont Corporation (NEM) is a Great Momentum Stock: Should You Buy?

Group 1: Momentum Investing Overview - Momentum investing involves following a stock's recent trend, with the aim of buying high and selling higher, capitalizing on established price movements [1] - The Zacks Momentum Style Score helps define momentum characteristics, with Newmont Corporation (NEM) currently holding a Momentum Style Score of A [2] - Style Scores complement the Zacks Rank, which has a strong track record of outperforming the market; NEM has a Zacks Rank of 2 (Buy) [3] Group 2: Newmont Corporation Performance - NEM shares have increased by 24.42% over the past week, outperforming the Zacks Mining - Gold industry, which rose by 14.44% [5] - Over the past quarter, NEM shares have risen by 34.24%, and over the last year, they have gained 45.1%, while the S&P 500 has moved -10.88% and 5.91%, respectively [6] - The average 20-day trading volume for NEM is 15,714,830 shares, indicating a bullish sign with rising stock prices [7] Group 3: Earnings Outlook - Recent earnings estimate revisions for NEM show 4 estimates moving higher and 1 lower, increasing the consensus estimate from $3.48 to$3.83 over the past 60 days [9] - For the next fiscal year, there have been 2 upward revisions and 2 downward revisions in earnings estimates [9] Group 4: Conclusion - Given the strong performance metrics and positive earnings outlook, NEM is positioned as a 2 (Buy) stock with a Momentum Score of A, making it a promising pick for investors [11]