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Newmont Corporation (NEM) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Newmont Corporation (NEM - Free Report) closed at $50.74, marking a -1.09% move from the previous day. This change lagged the S&P 500's 1.07% gain on the day. Elsewhere, the Dow gained 0.31%, while the tech-heavy Nasdaq added 2.17%.
Heading into today, shares of the gold and copper miner had gained 4.65% over the past month, outpacing the Basic Materials sector's loss of 0.59% and the S&P 500's gain of 2.92% in that time.
Investors will be eagerly watching for the performance of Newmont Corporation in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.71, reflecting a 97.22% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $4.07 billion, up 63.44% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.82 per share and a revenue of $17.39 billion, indicating changes of +75.16% and +47.26%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Newmont Corporation. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Newmont Corporation is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Newmont Corporation is currently exchanging hands at a Forward P/E ratio of 18.19. This valuation marks a premium compared to its industry's average Forward P/E of 15.77.
It's also important to note that NEM currently trades at a PEG ratio of 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. The Mining - Gold industry had an average PEG ratio of 0.77 as trading concluded yesterday.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 94, putting it in the top 38% 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) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Newmont Corporation (NEM - Free Report) closed at $50.74, marking a -1.09% move from the previous day. This change lagged the S&P 500's 1.07% gain on the day. Elsewhere, the Dow gained 0.31%, while the tech-heavy Nasdaq added 2.17%.
Heading into today, shares of the gold and copper miner had gained 4.65% over the past month, outpacing the Basic Materials sector's loss of 0.59% and the S&P 500's gain of 2.92% in that time.
Investors will be eagerly watching for the performance of Newmont Corporation in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.71, reflecting a 97.22% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $4.07 billion, up 63.44% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.82 per share and a revenue of $17.39 billion, indicating changes of +75.16% and +47.26%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Newmont Corporation. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Newmont Corporation is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Newmont Corporation is currently exchanging hands at a Forward P/E ratio of 18.19. This valuation marks a premium compared to its industry's average Forward P/E of 15.77.
It's also important to note that NEM currently trades at a PEG ratio of 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. The Mining - Gold industry had an average PEG ratio of 0.77 as trading concluded yesterday.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 94, putting it in the top 38% 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.