How Newmont (NEM) Stock Stands Out in a Strong Industry
One stock that might be an intriguing choice for investors right now is Newmont Corporation NEM.This is because this security in the Mining - Miscellaneous space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.
This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in Mining - Miscellaneous space as it currently has a Zacks Industry Rank of 69 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.
Meanwhile, Newmont is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.
Newmont Corporation Price and Consensus
Newmont Corporation price-consensus-chart | Newmont Corporation Quote
In fact, over the past 30 days, current quarter estimates have moved from 72 cents per share to 76 cents per share, while current year estimates have moved from $3.29 per share to $3.39 per share. The company currently carries a Zacks Rank #3 (Hold), which is also a favorable signal. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
So, if you are looking for a decent pick in a strong industry, consider Newmont. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.
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