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Newmont Corporation (NEM) Stock Declines While Market Improves: Some Information for Investors
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Newmont Corporation (NEM - Free Report) closed the most recent trading day at $44.13, moving -0.85% from the previous trading session. This move lagged the S&P 500's daily gain of 0.1%. At the same time, the Dow lost 0.08%, and the tech-heavy Nasdaq gained 0.28%.
The gold and copper miner's shares have seen an increase of 10.28% over the last month, surpassing the Basic Materials sector's loss of 0.98% and the S&P 500's gain of 4.08%.
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 July 24, 2024. On that day, Newmont Corporation is projected to report earnings of $0.52 per share, which would represent year-over-year growth of 57.58%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.49 billion, up 29.96% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $2.48 per share and a revenue of $16.03 billion, demonstrating changes of +54.04% and +35.69%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Newmont Corporation. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 4.68% rise in the Zacks Consensus EPS estimate. Newmont Corporation is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Newmont Corporation currently has a Forward P/E ratio of 17.97. This expresses a premium compared to the average Forward P/E of 15.61 of its industry.
Meanwhile, NEM's PEG ratio is currently 0.38. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Mining - Miscellaneous industry had an average PEG ratio of 2.78.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 202, finds itself in the bottom 20% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Newmont Corporation (NEM) Stock Declines While Market Improves: Some Information for Investors
Newmont Corporation (NEM - Free Report) closed the most recent trading day at $44.13, moving -0.85% from the previous trading session. This move lagged the S&P 500's daily gain of 0.1%. At the same time, the Dow lost 0.08%, and the tech-heavy Nasdaq gained 0.28%.
The gold and copper miner's shares have seen an increase of 10.28% over the last month, surpassing the Basic Materials sector's loss of 0.98% and the S&P 500's gain of 4.08%.
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 July 24, 2024. On that day, Newmont Corporation is projected to report earnings of $0.52 per share, which would represent year-over-year growth of 57.58%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.49 billion, up 29.96% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $2.48 per share and a revenue of $16.03 billion, demonstrating changes of +54.04% and +35.69%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Newmont Corporation. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 4.68% rise in the Zacks Consensus EPS estimate. Newmont Corporation is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Newmont Corporation currently has a Forward P/E ratio of 17.97. This expresses a premium compared to the average Forward P/E of 15.61 of its industry.
Meanwhile, NEM's PEG ratio is currently 0.38. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Mining - Miscellaneous industry had an average PEG ratio of 2.78.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 202, finds itself in the bottom 20% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.