Here's Why Newmont Stock Is a Buy Before Its First-Quarter Earnings

Gold miner Newmont (NYSE: NEM) is a shining example of an oversold stock. Its share price is up about 2.3% over the past month after climbing more than 19% so far this year.  The stock's been somewhat volatile over the past month (down as much as 18%), partly over enthusiasm for Newmont significantly improving its financial health by reducing debt and ending the most recent fiscal year with a net cash position of $2.1 billion.Some of the volatility is tied to the spot price of gold dropping from its high of $5,626 per ounce in late January to around $4,706. There's also concern that the U.S. Federal Reserve will raise interest rates to combat inflation, and that gold isn't as attractive an investment in a high-interest-rate environment as safer yield-bearing investments such as U.S. Treasuries.So there is some dispute about the near-term prospects for this stock. Here are three reasons to buy the materials stock before the company announces first-quarter earnings after the markets close on April 23.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool