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Newmont Corporation (NEM) Stock Moves -0.93%: What You Should Know
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Newmont Corporation (NEM - Free Report) closed at $42.40 in the latest trading session, marking a -0.93% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.71%. At the same time, the Dow lost 1.7%, and the tech-heavy Nasdaq lost 0.09%.
Coming into today, shares of the gold and copper miner had lost 3.93% in the past month. In that same time, the Basic Materials sector lost 5.04%, while the S&P 500 lost 8.68%.
Investors will be hoping for strength from Newmont Corporation as it approaches its next earnings release. In that report, analysts expect Newmont Corporation to post earnings of $0.64 per share. This would mark year-over-year growth of 6.67%. Our most recent consensus estimate is calling for quarterly revenue of $3.16 billion, up 9.31% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.61 per share and revenue of $12.43 billion, which would represent changes of -11.82% and +1.72%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Newmont Corporation. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 remained stagnant. Newmont Corporation is currently sporting a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Newmont Corporation is currently trading at a Forward P/E ratio of 16.4. Its industry sports an average Forward P/E of 7.87, so we one might conclude that Newmont Corporation is trading at a premium comparatively.
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 individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Newmont Corporation (NEM) Stock Moves -0.93%: What You Should Know
Newmont Corporation (NEM - Free Report) closed at $42.40 in the latest trading session, marking a -0.93% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.71%. At the same time, the Dow lost 1.7%, and the tech-heavy Nasdaq lost 0.09%.
Coming into today, shares of the gold and copper miner had lost 3.93% in the past month. In that same time, the Basic Materials sector lost 5.04%, while the S&P 500 lost 8.68%.
Investors will be hoping for strength from Newmont Corporation as it approaches its next earnings release. In that report, analysts expect Newmont Corporation to post earnings of $0.64 per share. This would mark year-over-year growth of 6.67%. Our most recent consensus estimate is calling for quarterly revenue of $3.16 billion, up 9.31% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.61 per share and revenue of $12.43 billion, which would represent changes of -11.82% and +1.72%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Newmont Corporation. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 remained stagnant. Newmont Corporation is currently sporting a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Newmont Corporation is currently trading at a Forward P/E ratio of 16.4. Its industry sports an average Forward P/E of 7.87, so we one might conclude that Newmont Corporation is trading at a premium comparatively.
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 individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.