We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Newmont Corporation (NEM) Gains But Lags Market: What You Should Know
Read MoreHide Full Article
Newmont Corporation (NEM - Free Report) closed at $59.87 in the latest trading session, marking a +0.71% move from the prior day. The stock lagged the S&P 500's daily gain of 1.5%. Elsewhere, the Dow gained 1.12%, while the tech-heavy Nasdaq added 0.32%.
Prior to today's trading, shares of the gold and copper miner had lost 11.49% over the past month. This has was narrower than the Basic Materials sector's loss of 26.33% and lagged the S&P 500's loss of 6.54% in that time.
Newmont Corporation will be looking to display strength as it nears its next earnings release. On that day, Newmont Corporation is projected to report earnings of $0.76 per share, which would represent a year-over-year decline of 8.43%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.19 billion, up 4.03% from the year-ago period.
NEM's full-year Zacks Consensus Estimates are calling for earnings of $3.43 per share and revenue of $13 billion. These results would represent year-over-year changes of +15.88% and +6.38%, respectively.
Investors should also note any recent changes to analyst estimates for Newmont Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.91% lower. Newmont Corporation is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Newmont Corporation is holding a Forward P/E ratio of 17.32. This valuation marks a premium compared to its industry's average Forward P/E of 6.34.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 94, putting it in the top 38% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Newmont Corporation (NEM) Gains But Lags Market: What You Should Know
Newmont Corporation (NEM - Free Report) closed at $59.87 in the latest trading session, marking a +0.71% move from the prior day. The stock lagged the S&P 500's daily gain of 1.5%. Elsewhere, the Dow gained 1.12%, while the tech-heavy Nasdaq added 0.32%.
Prior to today's trading, shares of the gold and copper miner had lost 11.49% over the past month. This has was narrower than the Basic Materials sector's loss of 26.33% and lagged the S&P 500's loss of 6.54% in that time.
Newmont Corporation will be looking to display strength as it nears its next earnings release. On that day, Newmont Corporation is projected to report earnings of $0.76 per share, which would represent a year-over-year decline of 8.43%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.19 billion, up 4.03% from the year-ago period.
NEM's full-year Zacks Consensus Estimates are calling for earnings of $3.43 per share and revenue of $13 billion. These results would represent year-over-year changes of +15.88% and +6.38%, respectively.
Investors should also note any recent changes to analyst estimates for Newmont Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.91% lower. Newmont Corporation is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Newmont Corporation is holding a Forward P/E ratio of 17.32. This valuation marks a premium compared to its industry's average Forward P/E of 6.34.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 94, putting it in the top 38% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.