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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 $39.26 in the latest trading session, marking a +1.13% move from the prior day. This move outpaced the S&P 500's daily gain of 0.12%. At the same time, the Dow lost 0.2%, and the tech-heavy Nasdaq gained 0.29%.
Coming into today, shares of the gold and copper miner had gained 0.91% in the past month. In that same time, the Basic Materials sector lost 1.09%, while the S&P 500 gained 0.09%.
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 $0.50, up 85.19% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.9 billion, up 10.04% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.04 per share and revenue of $12.06 billion. These totals would mark changes of +10.27% and +1.19%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Newmont Corporation. Recent revisions tend to reflect the latest near-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.
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 3.04% lower within the past month. Newmont Corporation is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Newmont Corporation is currently trading at a Forward P/E ratio of 18.99. This valuation marks a premium compared to its industry's average Forward P/E of 10.35.
It is also worth noting that NEM currently has a PEG ratio of 1.6. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. NEM's industry had an average PEG ratio of 1.05 as of yesterday's close.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 151, which puts it in the bottom 41% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Newmont Corporation (NEM) Outpaces Stock Market Gains: What You Should Know
Newmont Corporation (NEM - Free Report) closed at $39.26 in the latest trading session, marking a +1.13% move from the prior day. This move outpaced the S&P 500's daily gain of 0.12%. At the same time, the Dow lost 0.2%, and the tech-heavy Nasdaq gained 0.29%.
Coming into today, shares of the gold and copper miner had gained 0.91% in the past month. In that same time, the Basic Materials sector lost 1.09%, while the S&P 500 gained 0.09%.
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 $0.50, up 85.19% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.9 billion, up 10.04% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.04 per share and revenue of $12.06 billion. These totals would mark changes of +10.27% and +1.19%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Newmont Corporation. Recent revisions tend to reflect the latest near-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.
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 3.04% lower within the past month. Newmont Corporation is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Newmont Corporation is currently trading at a Forward P/E ratio of 18.99. This valuation marks a premium compared to its industry's average Forward P/E of 10.35.
It is also worth noting that NEM currently has a PEG ratio of 1.6. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. NEM's industry had an average PEG ratio of 1.05 as of yesterday's close.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 151, which puts it in the bottom 41% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.