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 multiple 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 growth rates exceeding 100%. The most recent quarter saw EPS growth of 127%, following previous quarters with 180% and 125% increases.
• Revenue Expansion: Sales growth has been robust, with a 49.5% increase over the past year. Recent quarters have shown consistent expansion, including a 24.5% rise in the latest quarter.
• Profit Margin Improvement: Profit margins have expanded significantly, reaching 37.7% in the last quarter, up from 19.4% a year ago.
• Analyst Revisions: EPS estimates for the next year have been revised upward by 40% over the past three months, reflecting improving sentiment.
• Free Cash Flow Growth: FCF per share surged by 469% year-over-year, indicating strong cash generation.

Technical Strength & Setup

• Technical Rating (10/10): NEM is in a strong uptrend, with both short-term and long-term trends positive. The stock is trading near its 52-week high, outperforming 85% of the market.
• Setup Quality (7/10): The stock has been consolidating in a range between $52.08 and $60.31, with reduced volatility. A breakout above $60.32 could signal further upside.
• Support Levels: Key support zones exist at $56.52-$57.08 and $54.27-$54.48, providing clear stop-loss levels for traders.

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

Our High Growth Momentum Breakout Setups Screen lists more stocks with similar characteristics and is updated daily.

Disclaimer

This is not investment advice. The observations here are based on current data, but investors should conduct their own research before making decisions.