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) Increases Despite Market Slip: Here's What You Need to Know
Read MoreHide Full Article
Newmont Corporation (NEM - Free Report) closed at $51.93 in the latest trading session, marking a +0.62% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.3%. Meanwhile, the Dow lost 0.54%, and the Nasdaq, a tech-heavy index, added 0.25%.
Heading into today, shares of the gold and copper miner had gained 11.23% over the past month, outpacing the Basic Materials sector's loss of 0.14% and the S&P 500's gain of 3.42% in that time.
The investment community will be paying close attention to the earnings performance of Newmont Corporation in its upcoming release. It is anticipated that the company will report an EPS of $0.71, marking a 97.22% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $4.07 billion, showing a 63.44% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.82 per share and revenue of $17.39 billion, which would represent changes of +75.16% and +47.26%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Newmont Corporation. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.3% higher. Currently, Newmont Corporation is carrying a Zacks Rank of #1 (Strong Buy).
Investors should also note Newmont Corporation's current valuation metrics, including its Forward P/E ratio of 18.3. This signifies a premium in comparison to the average Forward P/E of 15.27 for its industry.
We can also see that NEM currently has a PEG ratio of 0.38. 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. As the market closed yesterday, the Mining - Gold industry was having an average PEG ratio of 0.76.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 37% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Newmont Corporation (NEM) Increases Despite Market Slip: Here's What You Need to Know
Newmont Corporation (NEM - Free Report) closed at $51.93 in the latest trading session, marking a +0.62% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.3%. Meanwhile, the Dow lost 0.54%, and the Nasdaq, a tech-heavy index, added 0.25%.
Heading into today, shares of the gold and copper miner had gained 11.23% over the past month, outpacing the Basic Materials sector's loss of 0.14% and the S&P 500's gain of 3.42% in that time.
The investment community will be paying close attention to the earnings performance of Newmont Corporation in its upcoming release. It is anticipated that the company will report an EPS of $0.71, marking a 97.22% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $4.07 billion, showing a 63.44% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.82 per share and revenue of $17.39 billion, which would represent changes of +75.16% and +47.26%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Newmont Corporation. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.3% higher. Currently, Newmont Corporation is carrying a Zacks Rank of #1 (Strong Buy).
Investors should also note Newmont Corporation's current valuation metrics, including its Forward P/E ratio of 18.3. This signifies a premium in comparison to the average Forward P/E of 15.27 for its industry.
We can also see that NEM currently has a PEG ratio of 0.38. 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. As the market closed yesterday, the Mining - Gold industry was having an average PEG ratio of 0.76.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 37% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.