Why Newmont Corporation (NEM) is a Top Momentum Stock for the Long-Term

Newmont Corporation (NEM), a leading global gold producer, is highlighted as a top momentum stock, despite its Zacks Rank #3 (Hold) rating. The company boasts an 'A' Momentum Style Score and an 'A' VGM (Value, Growth, Momentum) Score, driven by strong recent performance, including a 9.3% share price increase over the past four weeks. Analysts have raised fiscal 2025 earnings estimates by $0.67 to $4.85 per share, supported by NEM's historical average earnings surprise of 32.8%, positioning it as a notable consideration for momentum-focused investors.

Analysis

Newmont Corporation (NEM) presents a compelling case for momentum-focused analysis, supported by strong quantitative signals despite a neutral Zacks #3 (Hold) rating. The stock's price has appreciated 9.3% over the past four weeks, earning it a top-tier 'A' for both its Momentum Style Score and its overall VGM Score. This upward price movement is underpinned by positive revisions to its earnings outlook. Specifically, the Zacks Consensus Estimate for fiscal 2025 earnings per share has increased by $0.67 to $4.85, following upward revisions from four analysts within the last 60 days. This forward-looking optimism is complemented by a strong track record of operational outperformance, demonstrated by an average historical earnings surprise of +32.8%. As a leading gold producer with 134.1 million ounces in reserves, NEM's fundamental position in the basic materials sector provides a solid backdrop to these technical and earnings-based signals.

Key Decisions for Investors

• Investors with a momentum-driven strategy should consider NEM a viable candidate, given its A-grade Momentum Score, recent 9.3% price increase, and positive earnings estimate revisions.
• The neutral Zacks #3 (Hold) rating warrants a degree of caution, suggesting investors should look for further fundamental catalysts or confirmation of the trend before building a full-sized position.
• Monitor upcoming earnings reports closely, as the stock's performance will likely depend on its ability to sustain its historical +32.8% average earnings surprise and validate the optimistic fiscal 2025 forecasts.