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Newmont Corporation (NEM) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Newmont Corporation (NEM - Free Report) closed at $62.11, marking a +1.27% move from the previous day. This move outpaced the S&P 500's daily gain of 0.94%. Elsewhere, the Dow gained 0.63%, while the tech-heavy Nasdaq lost 0.55%.
Heading into today, shares of the gold and copper miner had gained 1.49% over the past month, outpacing the Basic Materials sector's loss of 2.45% and the S&P 500's loss of 4.63% in that time.
Investors will be hoping for strength from Newmont Corporation as it approaches its next earnings release, which is expected to be February 24, 2022. The company is expected to report EPS of $0.75, down 29.25% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.34 billion, down 1.22% from the year-ago period.
Any recent changes to analyst estimates for Newmont Corporation should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.26% higher. Newmont Corporation currently has a Zacks Rank of #3 (Hold).
Investors should also note Newmont Corporation's current valuation metrics, including its Forward P/E ratio of 18.81. For comparison, its industry has an average Forward P/E of 10.07, which means Newmont Corporation is trading at a premium to the group.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 182, putting it in the bottom 29% 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) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Newmont Corporation (NEM - Free Report) closed at $62.11, marking a +1.27% move from the previous day. This move outpaced the S&P 500's daily gain of 0.94%. Elsewhere, the Dow gained 0.63%, while the tech-heavy Nasdaq lost 0.55%.
Heading into today, shares of the gold and copper miner had gained 1.49% over the past month, outpacing the Basic Materials sector's loss of 2.45% and the S&P 500's loss of 4.63% in that time.
Investors will be hoping for strength from Newmont Corporation as it approaches its next earnings release, which is expected to be February 24, 2022. The company is expected to report EPS of $0.75, down 29.25% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.34 billion, down 1.22% from the year-ago period.
Any recent changes to analyst estimates for Newmont Corporation should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.26% higher. Newmont Corporation currently has a Zacks Rank of #3 (Hold).
Investors should also note Newmont Corporation's current valuation metrics, including its Forward P/E ratio of 18.81. For comparison, its industry has an average Forward P/E of 10.07, which means Newmont Corporation is trading at a premium to the group.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 182, putting it in the bottom 29% 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.