In the latest trading session, Newmont Corporation (NEM - Free Report) closed at $42.08, marking a -0.68% move from the previous day. This change lagged the S&P 500's daily gain of 1.19%. At the same time, the Dow added 1.34%, and the tech-heavy Nasdaq lost 0.18%.
Heading into today, shares of the gold and copper miner had gained 2.72% over the past month, lagging the Basic Materials sector's gain of 2.89% and outpacing the S&P 500's loss of 0.84% in that time.
Wall Street will be looking for positivity from Newmont Corporation as it approaches its next earnings report date. This is expected to be November 1, 2022. On that day, Newmont Corporation is projected to report earnings of $0.29 per share, which would represent a year-over-year decline of 51.67%. Our most recent consensus estimate is calling for quarterly revenue of $2.79 billion, down 3.63% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.11 per share and revenue of $12.07 billion. These totals would mark changes of -28.72% and -1.25%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Newmont Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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 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. Within the past 30 days, our consensus EPS projection has moved 19.24% lower. Newmont Corporation is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Newmont Corporation currently has a Forward P/E ratio of 20.1. This represents a premium compared to its industry's average Forward P/E of 8.06.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 67, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
In the latest trading session, Newmont Corporation (NEM - Free Report) closed at $42.08, marking a -0.68% move from the previous day. This change lagged the S&P 500's daily gain of 1.19%. At the same time, the Dow added 1.34%, and the tech-heavy Nasdaq lost 0.18%.
Heading into today, shares of the gold and copper miner had gained 2.72% over the past month, lagging the Basic Materials sector's gain of 2.89% and outpacing the S&P 500's loss of 0.84% in that time.
Wall Street will be looking for positivity from Newmont Corporation as it approaches its next earnings report date. This is expected to be November 1, 2022. On that day, Newmont Corporation is projected to report earnings of $0.29 per share, which would represent a year-over-year decline of 51.67%. Our most recent consensus estimate is calling for quarterly revenue of $2.79 billion, down 3.63% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.11 per share and revenue of $12.07 billion. These totals would mark changes of -28.72% and -1.25%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Newmont Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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 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. Within the past 30 days, our consensus EPS projection has moved 19.24% lower. Newmont Corporation is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Newmont Corporation currently has a Forward P/E ratio of 20.1. This represents a premium compared to its industry's average Forward P/E of 8.06.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 67, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
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