The Relative Strength (RS) Rating for Newmont entered a higher percentile Tuesday, as it got a lift from 68 to 78.
IBD's proprietary RS Rating tracks technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the trailing 52 weeks compares to the rest of the market.
Decades of market research shows that the stocks that go on to make the biggest gains typically have an RS Rating of over 80 as they begin their largest climbs. See if Newmont can continue to show renewed price strength and hit that benchmark.
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While now is not an ideal time to invest, see if the stock goes on to form a chart pattern and break out.
In terms of fundamentals, Newmont has posted rising EPS growth in each of the last three reports. Revenue growth has also moved higher during the same period. The company is expected to report its next quarterly numbers on or around Feb. 20.
Newmont holds the No. 7 rank among its peers in the Mining-Gold/Silver/Gems industry group. Agnico-Eagle Mines, Alamos Gold and Harmony Gold Mining ADR are among the top 5 highly rated stocks within the group.
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