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Newmont Corporation (NEM) Dips More Than Broader Markets: What You Should Know
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Newmont Corporation (NEM - Free Report) closed at $60.66 in the latest trading session, marking a -1.67% move from the prior day. This move lagged the S&P 500's daily loss of 0.54%. Elsewhere, the Dow lost 0.02%, while the tech-heavy Nasdaq lost 0.12%.
Heading into today, shares of the gold and copper miner had gained 1.77% over the past month, outpacing the Basic Materials sector's loss of 2.26% and the S&P 500's loss of 7.87% in that time.
Wall Street will be looking for positivity from Newmont Corporation as it approaches its next earnings report date. This is expected to be February 24, 2022. On that day, Newmont Corporation is projected to report earnings of $0.75 per share, which would represent a year-over-year decline of 29.25%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.31 billion, down 2.13% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Newmont Corporation. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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. The Zacks Consensus EPS estimate has moved 0.26% higher within the past month. Newmont Corporation is currently a Zacks Rank #4 (Sell).
Investors should also note Newmont Corporation's current valuation metrics, including its Forward P/E ratio of 18.92. For comparison, its industry has an average Forward P/E of 10.12, which means Newmont Corporation is trading at a premium to the group.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 158, which puts it in the bottom 39% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Newmont Corporation (NEM) Dips More Than Broader Markets: What You Should Know
Newmont Corporation (NEM - Free Report) closed at $60.66 in the latest trading session, marking a -1.67% move from the prior day. This move lagged the S&P 500's daily loss of 0.54%. Elsewhere, the Dow lost 0.02%, while the tech-heavy Nasdaq lost 0.12%.
Heading into today, shares of the gold and copper miner had gained 1.77% over the past month, outpacing the Basic Materials sector's loss of 2.26% and the S&P 500's loss of 7.87% in that time.
Wall Street will be looking for positivity from Newmont Corporation as it approaches its next earnings report date. This is expected to be February 24, 2022. On that day, Newmont Corporation is projected to report earnings of $0.75 per share, which would represent a year-over-year decline of 29.25%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.31 billion, down 2.13% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Newmont Corporation. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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. The Zacks Consensus EPS estimate has moved 0.26% higher within the past month. Newmont Corporation is currently a Zacks Rank #4 (Sell).
Investors should also note Newmont Corporation's current valuation metrics, including its Forward P/E ratio of 18.92. For comparison, its industry has an average Forward P/E of 10.12, which means Newmont Corporation is trading at a premium to the group.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 158, which puts it in the bottom 39% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.