NEWMONT CORP (NYSE:NEM) – A High-Growth Momentum Stock with Strong Technical Setup

NEWMONT CORP (NYSE:NEM) stands out as a compelling candidate for high-growth momentum investors, combining strong earnings momentum with a favorable technical breakout pattern. The stock meets key criteria for growth and technical strength, making it worth a closer look.

Growth Momentum Highlights

• Earnings Growth: NEM reported a 140% year-over-year EPS growth (TTM), with recent quarterly EPS growth exceeding 127%. The past three quarters have shown consistent acceleration, with Q2Q growth rates of 180%, 125%, and 118%.
• Sales Growth: Revenue growth (TTM) stands at nearly 50%, with recent quarterly sales growth at 24.5%. The company has beaten revenue estimates in three of the last four quarters.
• Profit Margins: Profit margins have expanded significantly, rising from 19.4% three quarters ago to 37.7% in the most recent quarter.
• Analyst Revisions: EPS estimates for the next year have been revised upward by 13% over the past three months, indicating improving sentiment.
• Free Cash Flow: FCF per share surged by 468% over the past year, reinforcing financial strength.

Technical Strength & Setup

NEM scores a 9 out of 10 in ChartMill’s Technical Rating, reflecting a strong uptrend in both short and long-term timeframes. Key technical observations:

• Trend Strength: The stock is trading above key moving averages (50-day, 100-day, and 200-day), confirming bullish momentum.
• Relative Strength: NEM outperforms 89% of all stocks in the market over the past year.
• Consolidation Pattern: The stock has formed a tight trading range between $48.27 and $54.74, with a breakout level at $55.35 (just above resistance).
• Support Zones: Strong support lies near $52.07, providing a logical stop-loss level for traders.

For a deeper technical breakdown, review the full technical report for NEM.

Our High Growth Momentum Breakout Setups Screen lists more stocks with similar growth and technical characteristics.

Disclaimer

This is not investment advice. The observations are based on data available at the time of writing, and market conditions can change. Always conduct your own research before making investment decisions.