Published on 7 May 2024 on Zacks via Yahoo Finance

Can Newmont (NEM) Run Higher on Rising Earnings Estimates?

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Investors might want to bet on Newmont Corporation (NEM), as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, and this trend might continue with its still improving earnings outlook.

The rising trend in estimate revisions, which is a result of growing analyst optimism on the earnings prospects of this gold and copper miner, should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool -- the Zacks Rank -- has this insight at its core.

NYSE.NEM price evolution
TSX.NGT price evolution

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