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) Outpaces Stock Market Gains: What You Should Know
Read MoreHide Full Article
In the latest trading session, Newmont Corporation (NEM - Free Report) closed at $48.86, marking a +0.8% move from the previous day. This move outpaced the S&P 500's daily gain of 0.09%. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq lost 2.51%.
Prior to today's trading, shares of the gold and copper miner had gained 1.36% over the past month. This has lagged the Basic Materials sector's gain of 7.78% and the S&P 500's gain of 6.17% in that time.
Newmont Corporation will be looking to display strength as it nears its next earnings release, which is expected to be April 27, 2023. In that report, analysts expect Newmont Corporation to post earnings of $0.34 per share. This would mark a year-over-year decline of 50.72%. Meanwhile, our latest consensus estimate is calling for revenue of $2.85 billion, down 5.57% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.01 per share and revenue of $11.91 billion, which would represent changes of +8.65% and -0.03%, respectively, from the prior year.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 10.18% lower within the past month. Newmont Corporation is holding a Zacks Rank of #4 (Sell) right now.
Digging into valuation, Newmont Corporation currently has a Forward P/E ratio of 24.09. For comparison, its industry has an average Forward P/E of 10.38, which means Newmont Corporation is trading at a premium to the group.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 161, which puts it in the bottom 37% 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.
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) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Newmont Corporation (NEM - Free Report) closed at $48.86, marking a +0.8% move from the previous day. This move outpaced the S&P 500's daily gain of 0.09%. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq lost 2.51%.
Prior to today's trading, shares of the gold and copper miner had gained 1.36% over the past month. This has lagged the Basic Materials sector's gain of 7.78% and the S&P 500's gain of 6.17% in that time.
Newmont Corporation will be looking to display strength as it nears its next earnings release, which is expected to be April 27, 2023. In that report, analysts expect Newmont Corporation to post earnings of $0.34 per share. This would mark a year-over-year decline of 50.72%. Meanwhile, our latest consensus estimate is calling for revenue of $2.85 billion, down 5.57% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.01 per share and revenue of $11.91 billion, which would represent changes of +8.65% and -0.03%, respectively, from the prior year.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 10.18% lower within the past month. Newmont Corporation is holding a Zacks Rank of #4 (Sell) right now.
Digging into valuation, Newmont Corporation currently has a Forward P/E ratio of 24.09. For comparison, its industry has an average Forward P/E of 10.38, which means Newmont Corporation is trading at a premium to the group.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 161, which puts it in the bottom 37% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.