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Newmont Corporation (NEM) Surpasses Market Returns: Some Facts Worth Knowing
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In the latest trading session, Newmont Corporation (NEM - Free Report) closed at $58.26, marking a +2.64% move from the previous day. This change outpaced the S&P 500's 0.52% gain on the day. On the other hand, the Dow registered a gain of 0.63%, and the technology-centric Nasdaq increased by 0.48%.
Prior to today's trading, shares of the gold and copper miner had gained 7.66% outpaced the Basic Materials sector's gain of 2.15% and the S&P 500's gain of 4.27%.
Investors will be eagerly watching for the performance of Newmont Corporation in its upcoming earnings disclosure. The company's upcoming EPS is projected at $1.01, signifying a 40.28% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $4.53 billion, indicating a 2.83% increase compared to the same quarter of the previous year.
NEM's full-year Zacks Consensus Estimates are calling for earnings of $4.32 per share and revenue of $19.05 billion. These results would represent year-over-year changes of +24.14% and +1.98%, respectively.
Investors might also notice recent changes to analyst estimates for Newmont Corporation. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 3.39% higher. At present, Newmont Corporation boasts a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Newmont Corporation is presently being traded at a Forward P/E ratio of 13.13. This expresses a premium compared to the average Forward P/E of 11.43 of its industry.
It's also important to note that NEM currently trades at a PEG ratio of 0.75. 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 industry currently had an average PEG ratio of 0.55 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 48, putting it in the top 20% 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.
To follow NEM in the coming trading sessions, be sure to utilize Zacks.com.
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Newmont Corporation (NEM) Surpasses Market Returns: Some Facts Worth Knowing
In the latest trading session, Newmont Corporation (NEM - Free Report) closed at $58.26, marking a +2.64% move from the previous day. This change outpaced the S&P 500's 0.52% gain on the day. On the other hand, the Dow registered a gain of 0.63%, and the technology-centric Nasdaq increased by 0.48%.
Prior to today's trading, shares of the gold and copper miner had gained 7.66% outpaced the Basic Materials sector's gain of 2.15% and the S&P 500's gain of 4.27%.
Investors will be eagerly watching for the performance of Newmont Corporation in its upcoming earnings disclosure. The company's upcoming EPS is projected at $1.01, signifying a 40.28% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $4.53 billion, indicating a 2.83% increase compared to the same quarter of the previous year.
NEM's full-year Zacks Consensus Estimates are calling for earnings of $4.32 per share and revenue of $19.05 billion. These results would represent year-over-year changes of +24.14% and +1.98%, respectively.
Investors might also notice recent changes to analyst estimates for Newmont Corporation. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 3.39% higher. At present, Newmont Corporation boasts a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Newmont Corporation is presently being traded at a Forward P/E ratio of 13.13. This expresses a premium compared to the average Forward P/E of 11.43 of its industry.
It's also important to note that NEM currently trades at a PEG ratio of 0.75. 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 industry currently had an average PEG ratio of 0.55 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 48, putting it in the top 20% 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.
To follow NEM in the coming trading sessions, be sure to utilize Zacks.com.