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Newmont Corporation (NEM) Flat As Market Sinks: What You Should Know
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Newmont Corporation (NEM - Free Report) closed the most recent trading day at $34.51, making no change from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 1.61%. Elsewhere, the Dow saw a downswing of 0.82%, while the tech-heavy Nasdaq depreciated by 2.23%.
Prior to today's trading, shares of the gold and copper miner had lost 15.64% over the past month. This has lagged the Basic Materials sector's loss of 6.01% and the S&P 500's gain of 3.28% in that time.
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 February 22, 2024. The company's earnings per share (EPS) are projected to be $0.51, reflecting a 15.91% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $3.17 billion, indicating a 0.89% decrease compared to the same quarter of the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Newmont Corporation. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 7.41% decrease. At present, Newmont Corporation boasts a Zacks Rank of #5 (Strong Sell).
Digging into valuation, Newmont Corporation currently has a Forward P/E ratio of 15. This represents a premium compared to its industry's average Forward P/E of 12.05.
Meanwhile, NEM's PEG ratio is currently 2.42. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Mining - Miscellaneous industry stood at 1.82 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 177, placing it within the bottom 30% 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.
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Newmont Corporation (NEM) Flat As Market Sinks: What You Should Know
Newmont Corporation (NEM - Free Report) closed the most recent trading day at $34.51, making no change from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 1.61%. Elsewhere, the Dow saw a downswing of 0.82%, while the tech-heavy Nasdaq depreciated by 2.23%.
Prior to today's trading, shares of the gold and copper miner had lost 15.64% over the past month. This has lagged the Basic Materials sector's loss of 6.01% and the S&P 500's gain of 3.28% in that time.
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 February 22, 2024. The company's earnings per share (EPS) are projected to be $0.51, reflecting a 15.91% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $3.17 billion, indicating a 0.89% decrease compared to the same quarter of the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Newmont Corporation. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 7.41% decrease. At present, Newmont Corporation boasts a Zacks Rank of #5 (Strong Sell).
Digging into valuation, Newmont Corporation currently has a Forward P/E ratio of 15. This represents a premium compared to its industry's average Forward P/E of 12.05.
Meanwhile, NEM's PEG ratio is currently 2.42. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Mining - Miscellaneous industry stood at 1.82 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 177, placing it within the bottom 30% 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.