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Newmont Corporation (NEM) Surpasses Market Returns: Some Facts Worth Knowing
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The latest trading session saw Newmont Corporation (NEM - Free Report) ending at $34.53, denoting a +0.67% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily gain of 0.32%. Elsewhere, the Dow saw an upswing of 0.68%, while the tech-heavy Nasdaq appreciated by 0.2%.
Heading into today, shares of the gold and copper miner had gained 2.6% over the past month, lagging the Basic Materials sector's gain of 6.63% and the S&P 500's gain of 5.11% in that time.
Market participants will be closely following the financial results of Newmont Corporation in its upcoming release. It is anticipated that the company will report an EPS of $0.39, marking a 2.5% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $3.4 billion, showing a 26.86% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.88 per share and a revenue of $15 billion, representing changes of +16.77% and +26.99%, respectively, from the prior 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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 13.82% lower. 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 18.21. This signifies a premium in comparison to the average Forward P/E of 16.95 for its industry.
It's also important to note that NEM currently trades at a PEG ratio of 2.93. 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. As the market closed yesterday, the Mining - Miscellaneous industry was having an average PEG ratio of 2.93.
The Mining - Miscellaneous industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 170, this industry ranks in the bottom 33% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Newmont Corporation (NEM) Surpasses Market Returns: Some Facts Worth Knowing
The latest trading session saw Newmont Corporation (NEM - Free Report) ending at $34.53, denoting a +0.67% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily gain of 0.32%. Elsewhere, the Dow saw an upswing of 0.68%, while the tech-heavy Nasdaq appreciated by 0.2%.
Heading into today, shares of the gold and copper miner had gained 2.6% over the past month, lagging the Basic Materials sector's gain of 6.63% and the S&P 500's gain of 5.11% in that time.
Market participants will be closely following the financial results of Newmont Corporation in its upcoming release. It is anticipated that the company will report an EPS of $0.39, marking a 2.5% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $3.4 billion, showing a 26.86% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.88 per share and a revenue of $15 billion, representing changes of +16.77% and +26.99%, respectively, from the prior 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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 13.82% lower. 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 18.21. This signifies a premium in comparison to the average Forward P/E of 16.95 for its industry.
It's also important to note that NEM currently trades at a PEG ratio of 2.93. 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. As the market closed yesterday, the Mining - Miscellaneous industry was having an average PEG ratio of 2.93.
The Mining - Miscellaneous industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 170, this industry ranks in the bottom 33% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.