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Newmont Corporation (NEM) Stock Moves -0.67%: What You Should Know

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Newmont Corporation (NEM - Free Report) closed the most recent trading day at $52.98, moving -0.67% from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.96%. On the other hand, the Dow registered a loss of 0.94%, and the technology-centric Nasdaq decreased by 1.18%.

Shares of the gold and copper miner have appreciated by 5.96% over the course of the past month, underperforming the Basic Materials sector's gain of 8.15% and outperforming the S&P 500's gain of 4.3%.

Analysts and investors alike will be keeping a close eye on the performance of Newmont Corporation in its upcoming earnings disclosure. The company's earnings report is set to go public on October 23, 2024. The company's upcoming EPS is projected at $0.78, signifying a 116.67% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.07 billion, up 63.44% from the year-ago period.

For the full year, the Zacks Consensus Estimates project earnings of $3 per share and a revenue of $17.39 billion, demonstrating changes of +86.34% and +47.26%, respectively, from the preceding year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Newmont Corporation. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 6.5% increase. Newmont Corporation is currently a Zacks Rank #2 (Buy).

Looking at its valuation, Newmont Corporation is holding a Forward P/E ratio of 17.76. This valuation marks a premium compared to its industry's average Forward P/E of 15.36.

We can additionally observe that NEM currently boasts a PEG ratio of 0.45. 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 Mining - Gold was holding an average PEG ratio of 0.81 at yesterday's closing price.

The Mining - Gold industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 89, finds itself in the top 36% echelons of all 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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