In the latest trading session, Newmont Corporation (NEM - Free Report) closed at $48.84, marking a +1.03% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.57%. Elsewhere, the Dow gained 0.43%, while the tech-heavy Nasdaq added 0.33%.
Heading into today, shares of the gold and copper miner had gained 9.61% over the past month, outpacing the Basic Materials sector's loss of 0.51% and the S&P 500's gain of 1.72% in that time.
Newmont Corporation will be looking to display strength as it nears its next earnings release. On that day, Newmont Corporation is projected to report earnings of $0.28 per share, which would represent a year-over-year decline of 59.42%. Our most recent consensus estimate is calling for quarterly revenue of $2.85 billion, down 5.57% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.24 per share and revenue of $11.87 billion. These totals would mark changes of +21.08% and -0.42%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Newmont Corporation. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.47% lower. Newmont Corporation currently has a Zacks Rank of #3 (Hold).
Investors should also note Newmont Corporation's current valuation metrics, including its Forward P/E ratio of 21.58. For comparison, its industry has an average Forward P/E of 10.29, which means Newmont Corporation is trading at a premium to the group.
Investors should also note that NEM has a PEG ratio of 1.85 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Mining - Miscellaneous industry currently had an average PEG ratio of 2.1 as of yesterday's close.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 147, putting it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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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In the latest trading session, Newmont Corporation (NEM - Free Report) closed at $48.84, marking a +1.03% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.57%. Elsewhere, the Dow gained 0.43%, while the tech-heavy Nasdaq added 0.33%.
Heading into today, shares of the gold and copper miner had gained 9.61% over the past month, outpacing the Basic Materials sector's loss of 0.51% and the S&P 500's gain of 1.72% in that time.
Newmont Corporation will be looking to display strength as it nears its next earnings release. On that day, Newmont Corporation is projected to report earnings of $0.28 per share, which would represent a year-over-year decline of 59.42%. Our most recent consensus estimate is calling for quarterly revenue of $2.85 billion, down 5.57% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.24 per share and revenue of $11.87 billion. These totals would mark changes of +21.08% and -0.42%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Newmont Corporation. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.47% lower. Newmont Corporation currently has a Zacks Rank of #3 (Hold).
Investors should also note Newmont Corporation's current valuation metrics, including its Forward P/E ratio of 21.58. For comparison, its industry has an average Forward P/E of 10.29, which means Newmont Corporation is trading at a premium to the group.
Investors should also note that NEM has a PEG ratio of 1.85 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Mining - Miscellaneous industry currently had an average PEG ratio of 2.1 as of yesterday's close.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 147, putting it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Free Report – The Bitcoin Profit Phenomenon
Zacks Investment Research has released a Special Report to help you pursue massive profits from the world’s first and largest decentralized form of money.
No guarantees for the future, but in the past three presidential election years, Bitcoin’s returns were as follows: 2012 +272.4%, 2016 +161.1%, and 2020 +302.8%.
Zacks predicts another significant surge. Click below for Bitcoin: A Tumultuous Yet Resilient History.
Download Now – Today It’s FREE >>
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