The IBD SmartSelect Composite Rating for Newmont rose from 87 to 96 Thursday.
The revised score means the stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength. Winning stocks often have a 95 or higher rating in the early stages of a new price run, so that's an important benchmark to look for when looking for the best stocks to buy and watch.
Newmont broke out earlier, but is now trading right around the prior 44.59 entry from a flat base. If a stock you're tracking clears a buy point then falls 7% or more below the original entry price, it's considered a failed base. Wait for the stock to set up and breakout from a new base and buy point.
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The stock earns an 89 EPS Rating, which means its recent quarterly and annual earnings growth is outpacing 89% of all stocks.
Its Accumulation/Distribution Rating of B- shows moderate buying by institutional investors over the last 13 weeks.
The company posted a 125% rise in earnings for Q3. That marks three straight reports with rising EPS gains. Top line growth climbed 85%, up from 64% in the prior quarter. The company has now posted increasing growth in each of the last five quarters. The company's next quarterly report is expected on or around Feb. 20.
Newmont earns the No. 12 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.
