Newmont (NEM) Gains 12% in 3 Months: Should You Buy the Stock?
NEMNewmont(NEM) ZACKS·2024-07-08 21:25

Newmont Corporation’s (NEM) shares have racked up a 12.2% gain in the past three months, outperforming the Zacks Mining – Miscellaneous industry’s decline of 1.8% and the broader Zacks Basic Materials sector’s decrease of 6.5%. It has also topped the S&P 500’s 7.6% rise over the same period. The bullishness appears to have been catalyzed by expectations of solid earnings in the second quarter on the back of a rally in gold prices.The stock is currently trading at a roughly 3% discount to its 52-week high of ...