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Newmont Corporation (NEM) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Newmont Corporation (NEM - Free Report) closed at $40.29, marking a -0.44% move from the previous day. This change lagged the S&P 500's daily loss of 0.22%. Meanwhile, the Dow lost 0.31%, and the Nasdaq, a tech-heavy index, lost 0.23%.
Heading into today, shares of the gold and copper miner had gained 5.8% over the past month, outpacing the Basic Materials sector's gain of 3.52% and the S&P 500's gain of 2.08% in that time.
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 $0.49 per share. This would mark year-over-year growth of 81.48%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.2 billion, up 21.47% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.04 per share and revenue of $12.37 billion. These totals would mark changes of +10.27% and +3.85%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Newmont Corporation. These recent revisions tend to reflect the evolving nature of short-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. 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. Within the past 30 days, our consensus EPS projection has moved 3.5% lower. Newmont Corporation is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Newmont Corporation currently has a Forward P/E ratio of 19.86. This represents a premium compared to its industry's average Forward P/E of 10.51.
Meanwhile, NEM's PEG ratio is currently 1.67. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. NEM's industry had an average PEG ratio of 1.1 as of yesterday's close.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 155, putting it in the bottom 39% 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.
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Newmont Corporation (NEM) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Newmont Corporation (NEM - Free Report) closed at $40.29, marking a -0.44% move from the previous day. This change lagged the S&P 500's daily loss of 0.22%. Meanwhile, the Dow lost 0.31%, and the Nasdaq, a tech-heavy index, lost 0.23%.
Heading into today, shares of the gold and copper miner had gained 5.8% over the past month, outpacing the Basic Materials sector's gain of 3.52% and the S&P 500's gain of 2.08% in that time.
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 $0.49 per share. This would mark year-over-year growth of 81.48%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.2 billion, up 21.47% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.04 per share and revenue of $12.37 billion. These totals would mark changes of +10.27% and +3.85%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Newmont Corporation. These recent revisions tend to reflect the evolving nature of short-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. 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. Within the past 30 days, our consensus EPS projection has moved 3.5% lower. Newmont Corporation is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Newmont Corporation currently has a Forward P/E ratio of 19.86. This represents a premium compared to its industry's average Forward P/E of 10.51.
Meanwhile, NEM's PEG ratio is currently 1.67. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. NEM's industry had an average PEG ratio of 1.1 as of yesterday's close.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 155, putting it in the bottom 39% 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.