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Newmont Corporation (NEM) Gains As Market Dips: What You Should Know
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Newmont Corporation (NEM - Free Report) closed at $61.59 in the latest trading session, marking a +1.6% move from the prior day. This move outpaced the S&P 500's daily loss of 0.3%. Meanwhile, the Dow lost 0.25%, and the Nasdaq, a tech-heavy index, added 0.2%.
Prior to today's trading, shares of the gold and copper miner had gained 12.53% over the past month. This has outpaced the Basic Materials sector's gain of 3.64% and the S&P 500's gain of 3.11% in that time.
Wall Street will be looking for positivity from Newmont Corporation as it approaches its next earnings report date. The company is expected to report EPS of $0.76, down 28.3% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.31 billion, down 2.13% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.94 per share and revenue of $12.16 billion. These totals would mark changes of +10.53% and +5.81%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Newmont Corporation. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.46% lower. Newmont Corporation is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Newmont Corporation is holding a Forward P/E ratio of 20.59. This represents a premium compared to its industry's average Forward P/E of 10.54.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 187, which puts it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow NEM in the coming trading sessions, be sure to utilize Zacks.com.
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Newmont Corporation (NEM) Gains As Market Dips: What You Should Know
Newmont Corporation (NEM - Free Report) closed at $61.59 in the latest trading session, marking a +1.6% move from the prior day. This move outpaced the S&P 500's daily loss of 0.3%. Meanwhile, the Dow lost 0.25%, and the Nasdaq, a tech-heavy index, added 0.2%.
Prior to today's trading, shares of the gold and copper miner had gained 12.53% over the past month. This has outpaced the Basic Materials sector's gain of 3.64% and the S&P 500's gain of 3.11% in that time.
Wall Street will be looking for positivity from Newmont Corporation as it approaches its next earnings report date. The company is expected to report EPS of $0.76, down 28.3% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.31 billion, down 2.13% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.94 per share and revenue of $12.16 billion. These totals would mark changes of +10.53% and +5.81%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Newmont Corporation. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.46% lower. Newmont Corporation is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Newmont Corporation is holding a Forward P/E ratio of 20.59. This represents a premium compared to its industry's average Forward P/E of 10.54.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 187, which puts it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow NEM in the coming trading sessions, be sure to utilize Zacks.com.