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Newmont Corporation (NEM) Stock Falls Amid Market Uptick: What Investors Need to Know
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The latest trading session saw Newmont Corporation (NEM - Free Report) ending at $34.58, denoting a -0.12% adjustment from its last day's close. This change lagged the S&P 500's 1.23% gain on the day. Elsewhere, the Dow gained 1.06%, while the tech-heavy Nasdaq added 1.7%.
The gold and copper miner's shares have seen a decrease of 16.44% over the last month, not keeping up with the Basic Materials sector's loss of 6.13% and the S&P 500's gain of 0.94%.
Market participants will be closely following the financial results of Newmont Corporation in its upcoming release. The company's earnings per share (EPS) are projected to be $0.54, reflecting a 22.73% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $3.17 billion, down 0.89% from the prior-year quarter.
Investors should also take note of any recent adjustments to analyst estimates for Newmont Corporation. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 1.69% fall in the Zacks Consensus EPS estimate. Currently, Newmont Corporation is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Newmont Corporation is presently being traded at a Forward P/E ratio of 14.18. This denotes a premium relative to the industry's average Forward P/E of 10.86.
Also, we should mention that NEM has a PEG ratio of 2.28. 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. NEM's industry had an average PEG ratio of 1.81 as of yesterday's close.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 163, putting it in the bottom 36% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Newmont Corporation (NEM) Stock Falls Amid Market Uptick: What Investors Need to Know
The latest trading session saw Newmont Corporation (NEM - Free Report) ending at $34.58, denoting a -0.12% adjustment from its last day's close. This change lagged the S&P 500's 1.23% gain on the day. Elsewhere, the Dow gained 1.06%, while the tech-heavy Nasdaq added 1.7%.
The gold and copper miner's shares have seen a decrease of 16.44% over the last month, not keeping up with the Basic Materials sector's loss of 6.13% and the S&P 500's gain of 0.94%.
Market participants will be closely following the financial results of Newmont Corporation in its upcoming release. The company's earnings per share (EPS) are projected to be $0.54, reflecting a 22.73% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $3.17 billion, down 0.89% from the prior-year quarter.
Investors should also take note of any recent adjustments to analyst estimates for Newmont Corporation. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 1.69% fall in the Zacks Consensus EPS estimate. Currently, Newmont Corporation is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Newmont Corporation is presently being traded at a Forward P/E ratio of 14.18. This denotes a premium relative to the industry's average Forward P/E of 10.86.
Also, we should mention that NEM has a PEG ratio of 2.28. 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. NEM's industry had an average PEG ratio of 1.81 as of yesterday's close.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 163, putting it in the bottom 36% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.