On Thursday, Newmont stock received an upgrade to its Relative Strength (RS) Rating, from 65 to 75.
This exclusive rating from Investor's Business Daily measures market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the last 52 weeks compares to all the other stocks in our database.
Over 100 years of market history reveals that the best-performing stocks typically have an RS Rating of at least 80 in the early stages of their moves. See if Newmont stock can continue to rebound and clear that threshold.
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Is Newmont Stock A Buy?
Newmont stock broke out of a cup-with-handle pattern with a 41.30 buy point on Apr. 25. The precious metal stock is extended and not near an ideal buy zone right now, see if it is able to form and break out from a proper consolidation.
Earnings grew 38% last quarter, up from 5% in the prior report. Revenue also increased, from 24% to 50%.
Newmont stock earns the No. 16 rank among its peers in the Mining-Gold/Silver/Gems industry group. Agnico-Eagle Mines, Alamos Gold and Triple Flag Prec Metals are among the top 5 highly rated stocks within the group.
