Stocks to Buy: Newmont Mining (NEM)
Click to Enlarge It’s all bad news out there. The new bout of selling pressure is unleashing demand for safe-haven assets like Treasury bonds and precious metals. Gold mining stocks, which have been hit hard during the past two months, are on the move now as inflationary pressures bubble up (especially in food prices) and the geopolitical tension in the Ukraine ratchets up a notch.
Newmont Mining (NEM) is benefiting from this, with NEM shares pushing up and over their 200-day moving average for the first time since late 2012 on M&A chatter.
The May $26 calls I recommended to Edge Letter Pro clients on April 8 are up more than 25% already — and are poised for more.