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

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Newmont Corporation (NEM - Free Report) closed the most recent trading day at $73.37, moving -0.5% from the previous trading session. This change lagged the S&P 500's 2.14% gain on the day. At the same time, the Dow added 1.82%, and the tech-heavy Nasdaq gained 0.12%.

Prior to today's trading, shares of the gold and copper miner had gained 14.59% over the past month. This has outpaced the Basic Materials sector's gain of 3.08% and the S&P 500's loss of 5.01% in that time.

Wall Street will be looking for positivity from Newmont Corporation as it approaches its next earnings report date. The company is expected to report EPS of $0.76, up 2.7% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.97 billion, up 3.34% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.39 per share and revenue of $12.66 billion. These totals would mark changes of +14.53% and +3.61%, respectively, from last year.

It is also important to note the 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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 5.33% higher. Newmont Corporation currently has a Zacks Rank of #3 (Hold).

Looking at its valuation, Newmont Corporation is holding a Forward P/E ratio of 21.75. This represents a premium compared to its industry's average Forward P/E of 10.8.

The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 99, putting 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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