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Newmont Corporation (NEM) Stock Slides as Market Rises: Facts to Know Before You Trade
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The most recent trading session ended with Newmont Corporation (NEM - Free Report) standing at $53.45, reflecting a -0.83% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily gain of 0.42%. Elsewhere, the Dow saw an upswing of 0.04%, while the tech-heavy Nasdaq appreciated by 0.38%.
Prior to today's trading, shares of the gold and copper miner had gained 0.96% over the past month. This has lagged the Basic Materials sector's gain of 5.24% and the S&P 500's gain of 2.06% in that time.
Investors will be eagerly watching for the performance of Newmont Corporation in its upcoming earnings disclosure. On that day, Newmont Corporation is projected to report earnings of $0.75 per share, which would represent year-over-year growth of 108.33%. In the meantime, our current consensus estimate forecasts the revenue to be $4.07 billion, indicating a 63.44% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.94 per share and a revenue of $17.39 billion, signifying shifts of +82.61% and +47.26%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Newmont Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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, the Zacks Consensus EPS estimate has shifted 4.14% upward. Currently, Newmont Corporation is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, Newmont Corporation is holding a Forward P/E ratio of 18.35. This indicates a premium in contrast to its industry's Forward P/E of 15.85.
We can additionally observe that NEM currently boasts a PEG ratio of 0.45. 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. Mining - Gold stocks are, on average, holding a PEG ratio of 0.67 based on yesterday's closing prices.
The Mining - Gold industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 77, finds itself in the top 31% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Newmont Corporation (NEM) Stock Slides as Market Rises: Facts to Know Before You Trade
The most recent trading session ended with Newmont Corporation (NEM - Free Report) standing at $53.45, reflecting a -0.83% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily gain of 0.42%. Elsewhere, the Dow saw an upswing of 0.04%, while the tech-heavy Nasdaq appreciated by 0.38%.
Prior to today's trading, shares of the gold and copper miner had gained 0.96% over the past month. This has lagged the Basic Materials sector's gain of 5.24% and the S&P 500's gain of 2.06% in that time.
Investors will be eagerly watching for the performance of Newmont Corporation in its upcoming earnings disclosure. On that day, Newmont Corporation is projected to report earnings of $0.75 per share, which would represent year-over-year growth of 108.33%. In the meantime, our current consensus estimate forecasts the revenue to be $4.07 billion, indicating a 63.44% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.94 per share and a revenue of $17.39 billion, signifying shifts of +82.61% and +47.26%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Newmont Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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, the Zacks Consensus EPS estimate has shifted 4.14% upward. Currently, Newmont Corporation is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, Newmont Corporation is holding a Forward P/E ratio of 18.35. This indicates a premium in contrast to its industry's Forward P/E of 15.85.
We can additionally observe that NEM currently boasts a PEG ratio of 0.45. 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. Mining - Gold stocks are, on average, holding a PEG ratio of 0.67 based on yesterday's closing prices.
The Mining - Gold industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 77, finds itself in the top 31% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.