Are You Looking for a Top Momentum Pick? Why Newmont Corporation (NEM) is a Great Choice

Core Viewpoint - Newmont Corporation (NEM) is identified as a strong momentum stock with a Zacks Momentum Style Score of A and a Zacks Rank of 1 (Strong Buy), indicating potential for significant near-term gains [2][3][11] Momentum Characteristics - Momentum investing focuses on following a stock's recent price trends, with the expectation that established trends will continue [1] - NEM's shares have increased by 0.57% over the past week, while the Zacks Mining - Gold industry has declined by 2.5% during the same period [5] - Over the last quarter, NEM's shares have risen by 23.16%, and by 39.58% over the past year, significantly outperforming the S&P 500, which has moved 6.75% and 11.69% respectively [6] Trading Volume - NEM's average 20-day trading volume is 12,224,066 shares, indicating a bullish sign as the stock is rising with above-average volume [7] Earnings Outlook - In the past two months, four earnings estimates for NEM have been revised upwards, with no downward revisions, leading to an increase in the consensus estimate from $3.77 to $4.32 for the full year [9] - For the next fiscal year, four estimates have also moved upwards without any downward revisions [9] Conclusion - Given the strong momentum indicators and positive earnings outlook, NEM is positioned as a promising investment opportunity [11]