Here's Why Newmont Corporation (NEM) is a Strong Momentum Stock

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.

Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.

Is This 1 Momentum Stock a Screaming Buy Right Now?

Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

Newmont Corporation (NEM)

Colorado-based Newmont Corporation is one of the world's largest producers of gold with several active mines in Nevada, Peru, Australia and Ghana. As of Dec 31, 2024, Newmont had gold mineral reserves of 134.1 million ounces. Its attributable gold production for 2024 was around 6.8 million ounces.

NEM is a Zacks Rank #1 (Strong Buy) stock, with a Momentum Style Score of B and VGM Score of A. Shares are up 0.9% over the past one week and up 17.3% over the past four weeks. NEM has gained 39.5% in the last one-year period as well. Looking at trading volume, an average of 11,367,726 shares exchanged hands over the last 20 trading days.

Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2025. The Zacks Consensus Estimate has increased $0.93 to $5.27 per share. NEM boasts an average earnings surprise of 32.8%.

Investors should take the time to consider NEM for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.

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Newmont Corporation (NEM) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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