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Newmont Corporation (NEM) Gains As Market Dips: What You Should Know

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Newmont Corporation (NEM - Free Report) closed the most recent trading day at $64.35, moving +0.77% from the previous trading session. This change outpaced the S&P 500's 0.38% loss on the day. Elsewhere, the Dow lost 0.5%, while the tech-heavy Nasdaq lost 0.05%.

Heading into today, shares of the gold and copper miner had gained 4.31% over the past month, outpacing the Basic Materials sector's loss of 0.09% and the S&P 500's loss of 6.25% in that time.

Newmont Corporation will be looking to display strength as it nears 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.

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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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, 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 1.01% 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 19.84. This valuation marks a premium compared to its industry's average Forward P/E of 10.15.

The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 39% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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