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Newmont Corporation (NEM) Gains But Lags Market: What You Should Know
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Newmont Corporation (NEM - Free Report) closed the most recent trading day at $41.31, moving +1.4% from the previous trading session. This change lagged the S&P 500's 2.65% gain on the day. Elsewhere, the Dow gained 1.86%, while the tech-heavy Nasdaq added 0.24%.
Prior to today's trading, shares of the gold and copper miner had lost 6.79% over the past month. This has was narrower than the Basic Materials sector's loss of 8.19% and the S&P 500's loss of 8.99% in that time.
Investors will be hoping for strength from Newmont Corporation as it approaches its next earnings release, which is expected to be November 1, 2022. In that report, analysts expect Newmont Corporation to post earnings of $0.44 per share. This would mark a year-over-year decline of 26.67%. Our most recent consensus estimate is calling for quarterly revenue of $3.16 billion, up 9.31% from the year-ago period.
NEM's full-year Zacks Consensus Estimates are calling for earnings of $2.32 per share and revenue of $12.4 billion. These results would represent year-over-year changes of -21.62% and +1.44%, respectively.
Investors should also note any recent changes to analyst estimates for Newmont Corporation. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Over the past month, the Zacks Consensus EPS estimate has moved 11.3% lower. Newmont Corporation is currently a Zacks Rank #3 (Hold).
In terms of valuation, Newmont Corporation is currently trading at a Forward P/E ratio of 17.6. This represents a premium compared to its industry's average Forward P/E of 7.83.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 81, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Gains But Lags Market: What You Should Know
Newmont Corporation (NEM - Free Report) closed the most recent trading day at $41.31, moving +1.4% from the previous trading session. This change lagged the S&P 500's 2.65% gain on the day. Elsewhere, the Dow gained 1.86%, while the tech-heavy Nasdaq added 0.24%.
Prior to today's trading, shares of the gold and copper miner had lost 6.79% over the past month. This has was narrower than the Basic Materials sector's loss of 8.19% and the S&P 500's loss of 8.99% in that time.
Investors will be hoping for strength from Newmont Corporation as it approaches its next earnings release, which is expected to be November 1, 2022. In that report, analysts expect Newmont Corporation to post earnings of $0.44 per share. This would mark a year-over-year decline of 26.67%. Our most recent consensus estimate is calling for quarterly revenue of $3.16 billion, up 9.31% from the year-ago period.
NEM's full-year Zacks Consensus Estimates are calling for earnings of $2.32 per share and revenue of $12.4 billion. These results would represent year-over-year changes of -21.62% and +1.44%, respectively.
Investors should also note any recent changes to analyst estimates for Newmont Corporation. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Over the past month, the Zacks Consensus EPS estimate has moved 11.3% lower. Newmont Corporation is currently a Zacks Rank #3 (Hold).
In terms of valuation, Newmont Corporation is currently trading at a Forward P/E ratio of 17.6. This represents a premium compared to its industry's average Forward P/E of 7.83.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 81, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.