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Newmont Corporation (NEM) Beats Stock Market Upswing: What Investors Need to Know
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The latest trading session saw Newmont Corporation (NEM - Free Report) ending at $41.10, denoting a +1.41% adjustment from its last day's close. The stock's performance was ahead of the S&P 500's daily gain of 1.19%. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, added 1.96%.
Prior to today's trading, shares of the gold and copper miner had lost 2.2% over the past month. This has lagged the Basic Materials sector's loss of 0.08% and the S&P 500's gain of 3.35% in that time.
The investment community will be paying close attention to the earnings performance of Newmont Corporation in its upcoming release. The company is predicted to post an EPS of $0.50, indicating a 51.52% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $3.49 billion, up 29.96% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.37 per share and a revenue of $16.06 billion, indicating changes of +47.2% and +36.01%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Newmont Corporation. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.08% higher. Newmont Corporation is currently sporting a Zacks Rank of #3 (Hold).
With respect to valuation, Newmont Corporation is currently being traded at a Forward P/E ratio of 17.13. Its industry sports an average Forward P/E of 16.85, so one might conclude that Newmont Corporation is trading at a premium comparatively.
One should further note that NEM currently holds a PEG ratio of 0.34. 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. As the market closed yesterday, the Mining - Miscellaneous industry was having an average PEG ratio of 3.6.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 180, finds itself in the bottom 29% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Newmont Corporation (NEM) Beats Stock Market Upswing: What Investors Need to Know
The latest trading session saw Newmont Corporation (NEM - Free Report) ending at $41.10, denoting a +1.41% adjustment from its last day's close. The stock's performance was ahead of the S&P 500's daily gain of 1.19%. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, added 1.96%.
Prior to today's trading, shares of the gold and copper miner had lost 2.2% over the past month. This has lagged the Basic Materials sector's loss of 0.08% and the S&P 500's gain of 3.35% in that time.
The investment community will be paying close attention to the earnings performance of Newmont Corporation in its upcoming release. The company is predicted to post an EPS of $0.50, indicating a 51.52% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $3.49 billion, up 29.96% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.37 per share and a revenue of $16.06 billion, indicating changes of +47.2% and +36.01%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Newmont Corporation. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.08% higher. Newmont Corporation is currently sporting a Zacks Rank of #3 (Hold).
With respect to valuation, Newmont Corporation is currently being traded at a Forward P/E ratio of 17.13. Its industry sports an average Forward P/E of 16.85, so one might conclude that Newmont Corporation is trading at a premium comparatively.
One should further note that NEM currently holds a PEG ratio of 0.34. 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. As the market closed yesterday, the Mining - Miscellaneous industry was having an average PEG ratio of 3.6.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 180, finds itself in the bottom 29% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.