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) Ascends While Market Falls: Some Facts to Note
Read MoreHide Full Article
Newmont Corporation (NEM - Free Report) ended the recent trading session at $34.37, demonstrating a +1.45% swing from the preceding day's closing price. This change outpaced the S&P 500's 0.19% loss on the day. At the same time, the Dow added 0.1%, and the tech-heavy Nasdaq lost 0.54%.
Coming into today, shares of the gold and copper miner had gained 5.74% in the past month. In that same time, the Basic Materials sector gained 4.67%, while the S&P 500 gained 3.18%.
Market participants will be closely following the financial results of Newmont Corporation in its upcoming release. The company's upcoming EPS is projected at $0.39, signifying a 2.5% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $3.4 billion, up 26.86% from the prior-year quarter.
NEM's full-year Zacks Consensus Estimates are calling for earnings of $1.88 per share and revenue of $15 billion. These results would represent year-over-year changes of +16.77% and +26.99%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Newmont Corporation. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 13.82% fall in the Zacks Consensus EPS estimate. Newmont Corporation presently features a Zacks Rank of #3 (Hold).
With respect to valuation, Newmont Corporation is currently being traded at a Forward P/E ratio of 17.98. This represents a premium compared to its industry's average Forward P/E of 16.75.
We can additionally observe that NEM currently boasts a PEG ratio of 2.9. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. NEM's industry had an average PEG ratio of 3.13 as of yesterday's close.
The Mining - Miscellaneous industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 155, positioning it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Newmont Corporation (NEM) Ascends While Market Falls: Some Facts to Note
Newmont Corporation (NEM - Free Report) ended the recent trading session at $34.37, demonstrating a +1.45% swing from the preceding day's closing price. This change outpaced the S&P 500's 0.19% loss on the day. At the same time, the Dow added 0.1%, and the tech-heavy Nasdaq lost 0.54%.
Coming into today, shares of the gold and copper miner had gained 5.74% in the past month. In that same time, the Basic Materials sector gained 4.67%, while the S&P 500 gained 3.18%.
Market participants will be closely following the financial results of Newmont Corporation in its upcoming release. The company's upcoming EPS is projected at $0.39, signifying a 2.5% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $3.4 billion, up 26.86% from the prior-year quarter.
NEM's full-year Zacks Consensus Estimates are calling for earnings of $1.88 per share and revenue of $15 billion. These results would represent year-over-year changes of +16.77% and +26.99%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Newmont Corporation. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 13.82% fall in the Zacks Consensus EPS estimate. Newmont Corporation presently features a Zacks Rank of #3 (Hold).
With respect to valuation, Newmont Corporation is currently being traded at a Forward P/E ratio of 17.98. This represents a premium compared to its industry's average Forward P/E of 16.75.
We can additionally observe that NEM currently boasts a PEG ratio of 2.9. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. NEM's industry had an average PEG ratio of 3.13 as of yesterday's close.
The Mining - Miscellaneous industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 155, positioning it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.