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Newmont Corporation (NEM) Gains As Market Dips: What You Should Know
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In the latest trading session, Newmont Corporation (NEM - Free Report) closed at $46.64, marking a +0.09% move from the previous day. This move outpaced the S&P 500's daily loss of 1.65%. At the same time, the Dow lost 1.63%, and the tech-heavy Nasdaq lost 6.65%.
Prior to today's trading, shares of the gold and copper miner had gained 3.17% over the past month. This has outpaced the Basic Materials sector's loss of 2.51% and the S&P 500's gain of 0.3% in that time.
Investors will be hoping for strength from Newmont Corporation as it approaches its next earnings release. On that day, Newmont Corporation is projected to report earnings of $0.28 per share, which would represent a year-over-year decline of 59.42%. Our most recent consensus estimate is calling for quarterly revenue of $2.85 billion, down 5.57% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.24 per share and revenue of $11.87 billion. These totals would mark changes of +21.08% and -0.42%, respectively, from last year.
Any recent changes to analyst estimates for Newmont Corporation should also be noted by investors. 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.
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. The Zacks Consensus EPS estimate has moved 8.07% lower within the past month. Newmont Corporation is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Newmont Corporation currently has a Forward P/E ratio of 20.81. Its industry sports an average Forward P/E of 9.98, so we one might conclude that Newmont Corporation is trading at a premium comparatively.
Investors should also note that NEM has a PEG ratio of 1.79 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. NEM's industry had an average PEG ratio of 1.85 as of yesterday's close.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 78, which puts it in the top 31% 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.
To follow NEM in the coming trading sessions, be sure to utilize Zacks.com.
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Newmont Corporation (NEM) Gains As Market Dips: What You Should Know
In the latest trading session, Newmont Corporation (NEM - Free Report) closed at $46.64, marking a +0.09% move from the previous day. This move outpaced the S&P 500's daily loss of 1.65%. At the same time, the Dow lost 1.63%, and the tech-heavy Nasdaq lost 6.65%.
Prior to today's trading, shares of the gold and copper miner had gained 3.17% over the past month. This has outpaced the Basic Materials sector's loss of 2.51% and the S&P 500's gain of 0.3% in that time.
Investors will be hoping for strength from Newmont Corporation as it approaches its next earnings release. On that day, Newmont Corporation is projected to report earnings of $0.28 per share, which would represent a year-over-year decline of 59.42%. Our most recent consensus estimate is calling for quarterly revenue of $2.85 billion, down 5.57% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.24 per share and revenue of $11.87 billion. These totals would mark changes of +21.08% and -0.42%, respectively, from last year.
Any recent changes to analyst estimates for Newmont Corporation should also be noted by investors. 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.
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. The Zacks Consensus EPS estimate has moved 8.07% lower within the past month. Newmont Corporation is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Newmont Corporation currently has a Forward P/E ratio of 20.81. Its industry sports an average Forward P/E of 9.98, so we one might conclude that Newmont Corporation is trading at a premium comparatively.
Investors should also note that NEM has a PEG ratio of 1.79 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. NEM's industry had an average PEG ratio of 1.85 as of yesterday's close.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 78, which puts it in the top 31% 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.
To follow NEM in the coming trading sessions, be sure to utilize Zacks.com.