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Newmont Corporation (NEM) Dips More Than Broader Market: What You Should Know
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Newmont Corporation (NEM - Free Report) closed the most recent trading day at $47, moving -1.07% from the previous trading session. This change lagged the S&P 500's daily loss of 0.71%. Elsewhere, the Dow saw a downswing of 0.93%, while the tech-heavy Nasdaq depreciated by 0.81%.
The the stock of gold and copper miner has risen by 10.98% in the past month, leading the Basic Materials sector's loss of 0.77% and the S&P 500's gain of 1.08%.
The investment community will be closely monitoring the performance of Newmont Corporation in its forthcoming earnings report. The company is scheduled to release its earnings on July 24, 2024. It is anticipated that the company will report an EPS of $0.53, marking a 60.61% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $3.49 billion, indicating a 29.96% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.64 per share and a revenue of $16.51 billion, signifying shifts of +63.98% and +39.8%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Newmont Corporation. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been an 8.12% rise in the Zacks Consensus EPS estimate. Currently, Newmont Corporation is carrying a Zacks Rank of #2 (Buy).
In terms of valuation, Newmont Corporation is currently trading at a Forward P/E ratio of 17.99. This indicates a premium in contrast to its industry's Forward P/E of 14.52.
Meanwhile, NEM's PEG ratio is currently 0.38. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Mining - Miscellaneous industry held an average PEG ratio of 2.7.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 175, finds itself in the bottom 31% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Newmont Corporation (NEM) Dips More Than Broader Market: What You Should Know
Newmont Corporation (NEM - Free Report) closed the most recent trading day at $47, moving -1.07% from the previous trading session. This change lagged the S&P 500's daily loss of 0.71%. Elsewhere, the Dow saw a downswing of 0.93%, while the tech-heavy Nasdaq depreciated by 0.81%.
The the stock of gold and copper miner has risen by 10.98% in the past month, leading the Basic Materials sector's loss of 0.77% and the S&P 500's gain of 1.08%.
The investment community will be closely monitoring the performance of Newmont Corporation in its forthcoming earnings report. The company is scheduled to release its earnings on July 24, 2024. It is anticipated that the company will report an EPS of $0.53, marking a 60.61% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $3.49 billion, indicating a 29.96% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.64 per share and a revenue of $16.51 billion, signifying shifts of +63.98% and +39.8%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Newmont Corporation. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been an 8.12% rise in the Zacks Consensus EPS estimate. Currently, Newmont Corporation is carrying a Zacks Rank of #2 (Buy).
In terms of valuation, Newmont Corporation is currently trading at a Forward P/E ratio of 17.99. This indicates a premium in contrast to its industry's Forward P/E of 14.52.
Meanwhile, NEM's PEG ratio is currently 0.38. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Mining - Miscellaneous industry held an average PEG ratio of 2.7.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 175, finds itself in the bottom 31% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.