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Newmont Corporation (NEM) Gains But Lags Market: What You Should Know

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Newmont Corporation (NEM - Free Report) closed at $63.56 in the latest trading session, marking a +0.3% move from the prior day. This change lagged the S&P 500's 0.84% gain on the day. Elsewhere, the Dow gained 1.06%, while the tech-heavy Nasdaq added 0.1%.

Prior to today's trading, shares of the gold and copper miner had gained 4.87% over the past month. This has outpaced the Basic Materials sector's loss of 1.41% and the S&P 500's loss of 4.03% in that time.

Investors will be hoping for strength from Newmont Corporation as it approaches its next earnings release, which is expected to be February 24, 2022. In that report, analysts expect Newmont Corporation to post earnings of $0.76 per share. This would mark a year-over-year decline of 28.3%. Meanwhile, our latest consensus estimate is calling for revenue of $3.34 billion, down 1.22% from the prior-year quarter.

Any recent changes to analyst estimates for Newmont Corporation should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 0.97% lower. Newmont Corporation is holding a Zacks Rank of #3 (Hold) right now.

Valuation is also important, so investors should note that Newmont Corporation has a Forward P/E ratio of 19.68 right now. This valuation marks a premium compared to its industry's average Forward P/E of 10.18.

The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 180, which puts it in the bottom 30% 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.

Make sure to utilize to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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