We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Newmont Corporation (NEM) Outperforms Broader Market: What You Need to Know
Read MoreHide Full Article
The most recent trading session ended with Newmont Corporation (NEM - Free Report) standing at $39.11, reflecting a +1.74% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a gain of 0.43% for the day. Meanwhile, the Dow gained 0.19%, and the Nasdaq, a tech-heavy index, added 0.71%.
Shares of the gold and copper miner witnessed a loss of 0.98% over the previous month, beating the performance of the Basic Materials sector with its loss of 3.37% and the S&P 500's loss of 2.1%.
The investment community will be paying close attention to the earnings performance of Newmont Corporation in its upcoming release. The company is slated to reveal its earnings on October 26, 2023. The company is forecasted to report an EPS of $0.49, showcasing an 81.48% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $3.2 billion, indicating a 21.47% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.02 per share and a revenue of $12.37 billion, signifying shifts of +9.19% and +3.85%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Newmont Corporation. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.27% decrease. Newmont Corporation is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Newmont Corporation currently has a Forward P/E ratio of 19.05. This represents a premium compared to its industry's average Forward P/E of 10.26.
Meanwhile, NEM's PEG ratio is currently 1.56. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Mining - Miscellaneous industry stood at 1.03 at the close of the market yesterday.
The Mining - Miscellaneous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 195, placing it within the bottom 23% of over 250 industries.
The Zacks Industry Rank is ordered 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Newmont Corporation (NEM) Outperforms Broader Market: What You Need to Know
The most recent trading session ended with Newmont Corporation (NEM - Free Report) standing at $39.11, reflecting a +1.74% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a gain of 0.43% for the day. Meanwhile, the Dow gained 0.19%, and the Nasdaq, a tech-heavy index, added 0.71%.
Shares of the gold and copper miner witnessed a loss of 0.98% over the previous month, beating the performance of the Basic Materials sector with its loss of 3.37% and the S&P 500's loss of 2.1%.
The investment community will be paying close attention to the earnings performance of Newmont Corporation in its upcoming release. The company is slated to reveal its earnings on October 26, 2023. The company is forecasted to report an EPS of $0.49, showcasing an 81.48% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $3.2 billion, indicating a 21.47% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.02 per share and a revenue of $12.37 billion, signifying shifts of +9.19% and +3.85%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Newmont Corporation. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.27% decrease. Newmont Corporation is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Newmont Corporation currently has a Forward P/E ratio of 19.05. This represents a premium compared to its industry's average Forward P/E of 10.26.
Meanwhile, NEM's PEG ratio is currently 1.56. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Mining - Miscellaneous industry stood at 1.03 at the close of the market yesterday.
The Mining - Miscellaneous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 195, placing it within the bottom 23% of over 250 industries.
The Zacks Industry Rank is ordered 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.