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) Gains As Market Dips: What You Should Know
Read MoreHide Full Article
Newmont Corporation (NEM - Free Report) ended the recent trading session at $40.47, demonstrating a +1.05% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily loss of 0.01%. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq lost 0.25%.
Coming into today, shares of the gold and copper miner had lost 1.04% in the past month. In that same time, the Basic Materials sector lost 5.58%, while the S&P 500 lost 1.6%.
Market participants will be closely following the financial results of Newmont Corporation in its upcoming release. The company plans to announce its earnings on October 26, 2023. In that report, analysts expect Newmont Corporation to post earnings of $0.42 per share. This would mark year-over-year growth of 55.56%. Simultaneously, our latest consensus estimate expects the revenue to be $3.2 billion, showing a 21.47% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.96 per share and a revenue of $12.37 billion, indicating changes of +5.95% and +3.85%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Newmont Corporation. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 3.73% lower. Newmont Corporation is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Newmont Corporation is holding a Forward P/E ratio of 20.41. For comparison, its industry has an average Forward P/E of 10.39, which means Newmont Corporation is trading at a premium to the group.
It is also worth noting that NEM currently has a PEG ratio of 1.67. 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. The Mining - Miscellaneous industry currently had an average PEG ratio of 1.2 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 98, which puts it in the top 39% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Newmont Corporation (NEM) Gains As Market Dips: What You Should Know
Newmont Corporation (NEM - Free Report) ended the recent trading session at $40.47, demonstrating a +1.05% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily loss of 0.01%. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq lost 0.25%.
Coming into today, shares of the gold and copper miner had lost 1.04% in the past month. In that same time, the Basic Materials sector lost 5.58%, while the S&P 500 lost 1.6%.
Market participants will be closely following the financial results of Newmont Corporation in its upcoming release. The company plans to announce its earnings on October 26, 2023. In that report, analysts expect Newmont Corporation to post earnings of $0.42 per share. This would mark year-over-year growth of 55.56%. Simultaneously, our latest consensus estimate expects the revenue to be $3.2 billion, showing a 21.47% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.96 per share and a revenue of $12.37 billion, indicating changes of +5.95% and +3.85%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Newmont Corporation. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 3.73% lower. Newmont Corporation is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Newmont Corporation is holding a Forward P/E ratio of 20.41. For comparison, its industry has an average Forward P/E of 10.39, which means Newmont Corporation is trading at a premium to the group.
It is also worth noting that NEM currently has a PEG ratio of 1.67. 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. The Mining - Miscellaneous industry currently had an average PEG ratio of 1.2 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 98, which puts it in the top 39% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.