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In the latest trading session, Newmont Corporation (NEM - Free Report) closed at $34.49, marking a +0.15% move from the previous day. This move lagged the S&P 500's daily gain of 0.53%. Elsewhere, the Dow gained 0.64%, while the tech-heavy Nasdaq added 0.19%.
Shares of the gold and copper miner have depreciated by 18.74% over the course of the past month, underperforming the Basic Materials sector's loss of 7.42% and the S&P 500's gain of 2.48%.
The investment community will be paying close attention to the earnings performance of Newmont Corporation in its upcoming release. The company is slated to reveal its earnings on February 22, 2024. The company is predicted to post an EPS of $0.51, indicating a 15.91% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $3.17 billion, indicating a 0.89% downward movement from the same quarter last year.
It is also important to note the recent changes to analyst estimates for Newmont Corporation. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 7.41% downward. As of now, Newmont Corporation holds a Zacks Rank of #5 (Strong Sell).
Investors should also note Newmont Corporation's current valuation metrics, including its Forward P/E ratio of 14.97. This denotes a premium relative to the industry's average Forward P/E of 12.17.
One should further note that NEM currently holds a PEG ratio of 2.41. 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. The Mining - Miscellaneous industry currently had an average PEG ratio of 1.82 as of yesterday's close.
The Mining - Miscellaneous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 163, placing it within the bottom 36% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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) Rises Yet Lags Behind Market: Some Facts Worth Knowing
In the latest trading session, Newmont Corporation (NEM - Free Report) closed at $34.49, marking a +0.15% move from the previous day. This move lagged the S&P 500's daily gain of 0.53%. Elsewhere, the Dow gained 0.64%, while the tech-heavy Nasdaq added 0.19%.
Shares of the gold and copper miner have depreciated by 18.74% over the course of the past month, underperforming the Basic Materials sector's loss of 7.42% and the S&P 500's gain of 2.48%.
The investment community will be paying close attention to the earnings performance of Newmont Corporation in its upcoming release. The company is slated to reveal its earnings on February 22, 2024. The company is predicted to post an EPS of $0.51, indicating a 15.91% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $3.17 billion, indicating a 0.89% downward movement from the same quarter last year.
It is also important to note the recent changes to analyst estimates for Newmont Corporation. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 7.41% downward. As of now, Newmont Corporation holds a Zacks Rank of #5 (Strong Sell).
Investors should also note Newmont Corporation's current valuation metrics, including its Forward P/E ratio of 14.97. This denotes a premium relative to the industry's average Forward P/E of 12.17.
One should further note that NEM currently holds a PEG ratio of 2.41. 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. The Mining - Miscellaneous industry currently had an average PEG ratio of 1.82 as of yesterday's close.
The Mining - Miscellaneous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 163, placing it within the bottom 36% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.