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Newmont Corporation (NEM) Outpaces Stock Market Gains: What You Should Know
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Newmont Corporation (NEM - Free Report) closed at $42.04 in the latest trading session, marking a +1.4% move from the prior day. This change outpaced the S&P 500's 0.93% gain on the day. At the same time, the Dow added 0.56%, and the tech-heavy Nasdaq gained 1.71%.
Coming into today, shares of the gold and copper miner had lost 9.75% in the past month. In that same time, the Basic Materials sector lost 1.54%, while the S&P 500 gained 4.61%.
Newmont Corporation will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.45, down 2.17% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.84 billion, down 7.23% from the prior-year quarter.
NEM's full-year Zacks Consensus Estimates are calling for earnings of $2.44 per share and revenue of $12.22 billion. These results would represent year-over-year changes of +31.89% and +2.58%, respectively.
Investors should also note any recent changes to analyst estimates for Newmont Corporation. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 8.3% higher. Newmont Corporation is currently a Zacks Rank #3 (Hold).
Investors should also note Newmont Corporation's current valuation metrics, including its Forward P/E ratio of 17.01. Its industry sports an average Forward P/E of 9.14, so we one might conclude that Newmont Corporation is trading at a premium comparatively.
We can also see that NEM currently has a PEG ratio of 1.68. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Mining - Miscellaneous was holding an average PEG ratio of 1.75 at yesterday's closing price.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 174, putting it in the bottom 31% 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.
To follow NEM in the coming trading sessions, be sure to utilize Zacks.com.
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Newmont Corporation (NEM) Outpaces Stock Market Gains: What You Should Know
Newmont Corporation (NEM - Free Report) closed at $42.04 in the latest trading session, marking a +1.4% move from the prior day. This change outpaced the S&P 500's 0.93% gain on the day. At the same time, the Dow added 0.56%, and the tech-heavy Nasdaq gained 1.71%.
Coming into today, shares of the gold and copper miner had lost 9.75% in the past month. In that same time, the Basic Materials sector lost 1.54%, while the S&P 500 gained 4.61%.
Newmont Corporation will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.45, down 2.17% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.84 billion, down 7.23% from the prior-year quarter.
NEM's full-year Zacks Consensus Estimates are calling for earnings of $2.44 per share and revenue of $12.22 billion. These results would represent year-over-year changes of +31.89% and +2.58%, respectively.
Investors should also note any recent changes to analyst estimates for Newmont Corporation. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 8.3% higher. Newmont Corporation is currently a Zacks Rank #3 (Hold).
Investors should also note Newmont Corporation's current valuation metrics, including its Forward P/E ratio of 17.01. Its industry sports an average Forward P/E of 9.14, so we one might conclude that Newmont Corporation is trading at a premium comparatively.
We can also see that NEM currently has a PEG ratio of 1.68. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Mining - Miscellaneous was holding an average PEG ratio of 1.75 at yesterday's closing price.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 174, putting it in the bottom 31% 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.
To follow NEM in the coming trading sessions, be sure to utilize Zacks.com.