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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 $62.68, moving -0.65% from the previous trading session. This change lagged the S&P 500's 1.46% gain on the day. At the same time, the Dow added 1%, and the tech-heavy Nasdaq lost 0.17%.
Prior to today's trading, shares of the gold and copper miner had lost 3.68% over the past month. This has lagged the Basic Materials sector's loss of 3.64% and was narrower than the S&P 500's loss of 6.94% 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 $0.76 per share, which would represent a year-over-year decline of 8.43%. Meanwhile, our latest consensus estimate is calling for revenue of $3.19 billion, up 4.03% from the prior-year quarter.
NEM's full-year Zacks Consensus Estimates are calling for earnings of $3.43 per share and revenue of $13 billion. These results would represent year-over-year changes of +15.88% and +6.38%, respectively.
Investors should also note any 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 1.72% lower within the past month. Newmont Corporation currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Newmont Corporation has a Forward P/E ratio of 18.39 right now. Its industry sports an average Forward P/E of 7.75, so we one might conclude that Newmont Corporation is trading at a premium comparatively.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 104, which puts it in the top 42% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
View the Zacks #1 Rank List
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Newmont Corporation (NEM) Stock Sinks As Market Gains: What You Should Know
Newmont Corporation (NEM - Free Report) closed the most recent trading day at $62.68, moving -0.65% from the previous trading session. This change lagged the S&P 500's 1.46% gain on the day. At the same time, the Dow added 1%, and the tech-heavy Nasdaq lost 0.17%.
Prior to today's trading, shares of the gold and copper miner had lost 3.68% over the past month. This has lagged the Basic Materials sector's loss of 3.64% and was narrower than the S&P 500's loss of 6.94% 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 $0.76 per share, which would represent a year-over-year decline of 8.43%. Meanwhile, our latest consensus estimate is calling for revenue of $3.19 billion, up 4.03% from the prior-year quarter.
NEM's full-year Zacks Consensus Estimates are calling for earnings of $3.43 per share and revenue of $13 billion. These results would represent year-over-year changes of +15.88% and +6.38%, respectively.
Investors should also note any 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 1.72% lower within the past month. Newmont Corporation currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Newmont Corporation has a Forward P/E ratio of 18.39 right now. Its industry sports an average Forward P/E of 7.75, so we one might conclude that Newmont Corporation is trading at a premium comparatively.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 104, which puts it in the top 42% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.