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Newmont Corporation (NEM) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Newmont Corporation (NEM - Free Report) closed at $44.87, marking a -0.55% move from the previous day. This change lagged the S&P 500's daily gain of 1.68%. Meanwhile, the Dow gained 1.06%, and the Nasdaq, a tech-heavy index, lost 1.7%.
Coming into today, shares of the gold and copper miner had lost 6.58% in the past month. In that same time, the Basic Materials sector lost 4.99%, while the S&P 500 lost 6.68%.
Investors will be hoping for strength from Newmont Corporation as it approaches its next earnings release. On that day, Newmont Corporation is projected to report earnings of $0.33 per share, which would represent a year-over-year decline of 52.17%. Our most recent consensus estimate is calling for quarterly revenue of $2.94 billion, down 2.65% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.30 per share and revenue of $11.98 billion, which would represent changes of +24.32% and +0.51%, respectively, from the prior year.
Investors might also notice 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 3.57% lower. Newmont Corporation is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Newmont Corporation is currently trading at a Forward P/E ratio of 19.65. Its industry sports an average Forward P/E of 10.4, so we one might conclude that Newmont Corporation is trading at a premium comparatively.
Investors should also note that NEM has a PEG ratio of 1.69 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Mining - Miscellaneous stocks are, on average, holding a PEG ratio of 1.69 based on yesterday's closing prices.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 37% 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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Newmont Corporation (NEM) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Newmont Corporation (NEM - Free Report) closed at $44.87, marking a -0.55% move from the previous day. This change lagged the S&P 500's daily gain of 1.68%. Meanwhile, the Dow gained 1.06%, and the Nasdaq, a tech-heavy index, lost 1.7%.
Coming into today, shares of the gold and copper miner had lost 6.58% in the past month. In that same time, the Basic Materials sector lost 4.99%, while the S&P 500 lost 6.68%.
Investors will be hoping for strength from Newmont Corporation as it approaches its next earnings release. On that day, Newmont Corporation is projected to report earnings of $0.33 per share, which would represent a year-over-year decline of 52.17%. Our most recent consensus estimate is calling for quarterly revenue of $2.94 billion, down 2.65% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.30 per share and revenue of $11.98 billion, which would represent changes of +24.32% and +0.51%, respectively, from the prior year.
Investors might also notice 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 3.57% lower. Newmont Corporation is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Newmont Corporation is currently trading at a Forward P/E ratio of 19.65. Its industry sports an average Forward P/E of 10.4, so we one might conclude that Newmont Corporation is trading at a premium comparatively.
Investors should also note that NEM has a PEG ratio of 1.69 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Mining - Miscellaneous stocks are, on average, holding a PEG ratio of 1.69 based on yesterday's closing prices.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 37% 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.