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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 at $41.67 in the latest trading session, marking a +1.86% move from the prior day. This move outpaced the S&P 500's daily loss of 1.07%. Elsewhere, the Dow lost 1.07%, while the tech-heavy Nasdaq lost 0.07%.
Prior to today's trading, shares of the gold and copper miner had lost 9.65% over the past month. This has lagged the Basic Materials sector's loss of 2.95% and the S&P 500's loss of 3.49% in that time.
Wall Street will be looking for positivity from Newmont Corporation as it approaches its next earnings report date. On that day, Newmont Corporation is projected to report earnings of $0.64 per share, which would represent year-over-year growth of 6.67%. Meanwhile, our latest consensus estimate is calling for revenue of $3.16 billion, up 9.31% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.61 per share and revenue of $12.43 billion, which would represent changes of -11.82% and +1.72%, respectively, from the prior year.
Any recent changes to analyst estimates for Newmont Corporation should also be noted by investors. 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. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Newmont Corporation is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Newmont Corporation's current valuation metrics, including its Forward P/E ratio of 15.67. Its industry sports an average Forward P/E of 7.9, 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 group has a Zacks Industry Rank of 189, putting it in the bottom 25% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Newmont Corporation (NEM) Gains As Market Dips: What You Should Know
Newmont Corporation (NEM - Free Report) closed at $41.67 in the latest trading session, marking a +1.86% move from the prior day. This move outpaced the S&P 500's daily loss of 1.07%. Elsewhere, the Dow lost 1.07%, while the tech-heavy Nasdaq lost 0.07%.
Prior to today's trading, shares of the gold and copper miner had lost 9.65% over the past month. This has lagged the Basic Materials sector's loss of 2.95% and the S&P 500's loss of 3.49% in that time.
Wall Street will be looking for positivity from Newmont Corporation as it approaches its next earnings report date. On that day, Newmont Corporation is projected to report earnings of $0.64 per share, which would represent year-over-year growth of 6.67%. Meanwhile, our latest consensus estimate is calling for revenue of $3.16 billion, up 9.31% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.61 per share and revenue of $12.43 billion, which would represent changes of -11.82% and +1.72%, respectively, from the prior year.
Any recent changes to analyst estimates for Newmont Corporation should also be noted by investors. 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. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Newmont Corporation is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Newmont Corporation's current valuation metrics, including its Forward P/E ratio of 15.67. Its industry sports an average Forward P/E of 7.9, 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 group has a Zacks Industry Rank of 189, putting it in the bottom 25% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.