Why Newmont (NEM) Might be Well Poised for a Surge

Core Viewpoint - Newmont Corporation (NEM) is experiencing solid improvements in earnings estimates, which may lead to continued positive stock momentum [1][2]. Earnings Estimate Revisions - Analysts show growing optimism regarding Newmont's earnings prospects, reflected in upward revisions of earnings estimates, which correlate strongly with stock price movements [2]. - The current-quarter earnings estimate is $0.84 per share, a 52.73% increase from the previous year, with a 14.48% rise in consensus estimates over the last 30 days [5]. - For the full year, Newmont is expected to earn$ 3.83 per share, marking a year-over-year increase of 10.06%, with a 15.35% boost in consensus estimates over the past month [6][7]. Zacks Rank and Performance - Newmont has achieved a Zacks Rank 2 (Buy), indicating promising estimate revisions that suggest potential for further stock price appreciation [8]. - Historically, stocks with Zacks Rank 1 (Strong Buy) and 2 (Buy) have significantly outperformed the S&P 500 [8]. Investment Outlook - The stock has increased by 16.6% over the past four weeks due to strong estimate revisions, suggesting that there may still be upside potential for investors [9].