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Newmont Corporation (NEM) Stock Sinks As Market Gains: What You Should Know
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Newmont Corporation (NEM - Free Report) closed at $37.03 in the latest trading session, marking a -0.67% move from the prior day. This move lagged the S&P 500's daily gain of 0.59%. Elsewhere, the Dow gained 0.35%, while the tech-heavy Nasdaq added 0.83%.
Heading into today, shares of the gold and copper miner had lost 6.24% over the past month, lagging the Basic Materials sector's gain of 0.67% and the S&P 500's loss of 2.84% 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 $0.49 per share, which would represent year-over-year growth of 81.48%. Our most recent consensus estimate is calling for quarterly revenue of $3.2 billion, up 21.47% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.04 per share and revenue of $12.37 billion, which would represent changes of +10.27% and +3.85%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Newmont Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 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 2.67% lower. Newmont Corporation currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Newmont Corporation is currently trading at a Forward P/E ratio of 18.29. This valuation marks a premium compared to its industry's average Forward P/E of 10.43.
Investors should also note that NEM has a PEG ratio of 1.54 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Mining - Miscellaneous stocks are, on average, holding a PEG ratio of 1.1 based on yesterday's closing prices.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 184, which puts it in the bottom 27% 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.
To follow NEM in the coming trading sessions, be sure to utilize Zacks.com.
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Newmont Corporation (NEM) Stock Sinks As Market Gains: What You Should Know
Newmont Corporation (NEM - Free Report) closed at $37.03 in the latest trading session, marking a -0.67% move from the prior day. This move lagged the S&P 500's daily gain of 0.59%. Elsewhere, the Dow gained 0.35%, while the tech-heavy Nasdaq added 0.83%.
Heading into today, shares of the gold and copper miner had lost 6.24% over the past month, lagging the Basic Materials sector's gain of 0.67% and the S&P 500's loss of 2.84% 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 $0.49 per share, which would represent year-over-year growth of 81.48%. Our most recent consensus estimate is calling for quarterly revenue of $3.2 billion, up 21.47% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.04 per share and revenue of $12.37 billion, which would represent changes of +10.27% and +3.85%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Newmont Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 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 2.67% lower. Newmont Corporation currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Newmont Corporation is currently trading at a Forward P/E ratio of 18.29. This valuation marks a premium compared to its industry's average Forward P/E of 10.43.
Investors should also note that NEM has a PEG ratio of 1.54 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Mining - Miscellaneous stocks are, on average, holding a PEG ratio of 1.1 based on yesterday's closing prices.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 184, which puts it in the bottom 27% 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.
To follow NEM in the coming trading sessions, be sure to utilize Zacks.com.