One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Newmont now clears that threshold, with a jump from 77 to 81 Thursday.
This unique rating tracks market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the last 52 weeks matches up against other publicly traded companies.
Over 100 years of market history reveals that the market's biggest winners often have an 80 or higher RS Rating as they launch their biggest price moves.
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Newmont has moved more than 5% past a 44.59 entry in a first-stage flat base, meaning it's now out of a proper buy range. Look for the stock to create a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
In terms of top and bottom line numbers, Newmont has posted rising EPS growth over the last three quarters. Revenue gains have also increased during the same period. Newmont is expected to report its next quarterly numbers on or around Feb. 20.
Newmont earns the No. 9 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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